In the dystopian future envisaged by George Orwell in his novel 1984, the government dictated all aspects of the lives of its citizens.
How will the industry recover and when it emerges from this crisis, will it look completely different? The immediate impact has been cataclysmic, but there are also concerns growing over the future of the Indian economy.
The most enduring image of the Coronavirus pandemic and ensuing lockdown in India is likely to be that of hundreds of migrant workers – desperate droves of scruffy men, women, and children – dotting the country’s highways as they set off for their homes on foot notwithstanding the scorching April heat or their ill-preparedness for the rigors of the journey ahead. It has almost been like witnessing a reverse replay of the Dust Bowl Exodus in the United States when, in the midst of the Great Depression, severe dust storms and drought caused millions to migrate to cities in search of work and livelihood.
Chief Minister Arvind Kejriwal knows that life needs to go on because completely overpowering Covid-19 won’t be possible without a vaccine. Delhi government is confident it has the resources to manage any future challenges if and when the capital is allowed to reopen for business.
This article examines whether the Indian SME sector would survive the disruption caused by the Covid 19 lockdown. Already struggling, Indian SMEs are faced with a Perfect Storm of converging trends. The government needs to step in to save the sector. SMEs too should learn to be resilient now.