Explained National

The Show Must Go On – A Glimpse on the Wheels of Economy Getting A Restart

wheels of economy

At a time when many critics are busy predicting doomsday for economic activities due to the Corona crisis and lockdown, it is imperative to look at reports across the media that assure you this –  the production and consumption cycle is already showing the sign of moving again even before lifting of the complete lockdown.

In our earlier article, we have explained how some of the sectors have shined even amidst the lockdown. You may read our article Economy Gone with the Virus? Steel, Fertilizers, Resumption of Factories Are Telling a Soothing Story for more details.

Let’s look at some more examples here.

  • MoneyControl portal interviewed Ritu Maheshwari, the chief executive officer of Noida Authority. She laid out the numbers saying “as many as 1,500 industries, which employ around 70,000 people, and 100 construction projects that will need at least 8,000 labourers have been allowed to resume work in Noida.” Industrial and commercial zones like Noida is giving a clear signal about the way economy is restarting.
  • On May 10, LiveMint reported that India’s largest two-wheeler manufacturer Hero Moto Corp Ltd on Sunday announced the reopening of 1,500 retail touch points across the country, and the company claimed that it sold 10,000 units of motorcycles after reopening these touch points.
  • The Times of India report quoting a survey claims that in the areas that are reopened, consumers are upbeat about spending.

  • Maruti Suzuki India Limited restarted its Manesar plant on May 12. A couple of days back the company reopened its 600 dealerships across the country and started delivering vehicles.
  • Karnataka already opened industries and commercial activities with limited workforce since May 4.

So, the country is finding a way to manage both lives and livelihood at this trying time of global pandemic.

Share