The Post-Covid Era Will Have Challenges New And Old

India needs to rescript its automobile story, line by line, getting its priorities right, and with a policy push

- Gurpratap Boparai

In order to stop the spread of the COVID-19 outbreak, many countries across the world, including India, have taken very tough measures.

We are still not certain how this crisis will play out, but we are aware of its effects on our economic, physical and mental well-being. The automotive industry was pulling itself up from a prolonged slump when the pandemic threw everything out of gear. How can it surmount the many challenges it now faces?

At the time of writing this, the lockdown has been extended till May 3. Normal operations of establishments, services, factories, plants, organised and unorganised sector businesses, from the micro, self-owned levels to gigantic MNCs, have all been severely disrupted, and we still do not know what lies ahead.

As businesses close, financial concerns and job losses are one of the first human impacts of this pandemic. The World Trade Organisation has predicted that global trade will sharply fall by 13-32 per cent in various markets in 2020 and over 20 per cent in 2021.

While all of us are rightly concerned about the free-falling economic and business growth numbers, we also need to prioritise our response to this ever-changing scenario. In my opinion, unless human lives and people are safeguarded there would be no commercial activity, no markets, no demand, and supply mechanism. It is our people who drive the economy and without a healthy population there is no economy.

Though it may feel premature, we must act on the basis of hope. We must be prepared for a return to normalcy and cannot afford any complacence in helping the country get back on its path to recovery. As a contributor to over 7 per cent of India’s GDP, the entire automotive industry has a vital role to play.

Facing the odds