Second Covid wave: India Inc higher ready however pessimistic

Today News Online Service

New Delhi, April 20

A cross section of Indian industry has said the lessons learnt last year will come in handy as the country enters another period of economic turbulence due to the second wave of Covid.

Unlike last year, the macroeconomic conditions are better because the governments all over the world are spending a lot on infrastructure — TV Narendran, CEO, Tata Steel

“The organisations’ resilience and agility have been stress-tested and tuned for disruption,” said Sanjiv Puri, CMD, ITC Ltd, at the 6th National Leadership Conclave of All India Management Association (AIMA). TV Narendran, CEO, Tata Steel, agreed that his company was better prepared for disruption than last year when they were surprised by the lockdown.

Though India Inc was better prepared, Sanjay Kirloskar, CMD, Kirloskar Brothers, said the previous year had been a rough one for India’s business leaders and the new financial year promised to continue in the same manner. “It is hard to settle on any assumptions to make even medium-term decisions because of the new Covid wave,” he said.

The ITC chief said his company was better prepared with re-oriented supply chains and inventories in anticipation of potential disruption. Also, the company’s innovation team was listening to the consumers and identifying new needs and trends. “We are well prepared to deal with the Covid,” he said.

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