Embrace the new Beginning

2021 has begun on a positive note. Approval for use of multiple vaccines, faster than anticipated recovery on the economic front, rising corporate profitability, rising stock markets and a pro-growth budget are helping relegate the dark memories of the Covid 19 pandemic into the background and not to forget, a memorable victory for the Indian cricket team under most trying conditions in Australia. The series showcased the resilience, tenacity and confidence of youth of this country. What we saw on the field of cricket is a reflection of the attitude of the next generation. The spirit of playing to win is what will augur well for the country’s economy for the next decade.

- Ajit Menon

The pandemic prompted most economists, businesses and behavioural scientists to put significant amount of efforts trying to visualise the new normal and what it means for the prospects of various sectors. There are varied views on the subject. The fascinating part is that irrespective of the view, all experts agree that the one theme that will continue to be the pillar of future growth is the “on demand economy”. This term refers to an economy that fulfils consumer demand on the basis of immediate access to goods and services in a manner desired by the consumer.

When we refer to an on demand economy, the services that come to mind are food delivery apps, ride hailing services, video streaming services etc.

If I say that this term may have been coined over the last few years, but there has been an industry that has been serving its customers on the lines of an on demand economy for more than two decades, I am sure most of you may not agree. But in fact there is.... It is the Mutual Fund industry.