Impact of Covid -19 in Indian Businesses
Reorganizing Indian business has been hard.The COVID-19 collapse is an ongoing global economic recession indirect result of the COVID-19 pandemic.
Within seven months, every superior economy had fallen to a slowdown or depression, while all emerging economies and markets were in a recession.
The global economic impact of the Coronavirus pandemic has been profound. It appears that Indian industries are having a difficult time keeping up with demand and supply, which are both declining. ‘Reorganizing Indian Business during the current Global Crisis’ is a webinar organised by Arya College Jaipur Main Campus, the best private engineering college in India, to address these issues.
Participants in the webinar to discuss on the topic ”Reorganizing Indian Business during the current Global Crisis’ are:
- Dr K. L. Jain (President, Jaipur Management Association)
- Dr Puja Agarwal (Vice President, Jaipur Management Association & Arya Group of Colleges)
- Dr Ajay Kumar Mathur (Honorary Secretary, Jaipur Management Association)
- Mr P.M. Bhardwaj was among the dignitaries who participated in this discussion (Chief Advisor, Jaipur Management Association).
Despite the fact that COVID-19 cases in India are on the rise, India is now ranked third in the world among the most affected nations. The Government of India, with the consent of all state governments, has decided to reopen the businesses and industries as a temporary solution. Thus, all these initiatives are made to bring the economy back to normal and commercial activities can be started.
Why is it important to reorganize business post covid-19?
After COVID-19, the experts believe that proper reorganisation and management of the business, including the manpower, is required in order to capitalise on new opportunities that the crisis has created for a developing country like India in sectors such as Information Technology, Pharmacy, Manufacture, and Engineering.
India’s industries and other sectors will benefit greatly from Prime Minister Narendra Modi’s initiatives, such as Atmanirbhar Bahrat and Vocal for Local. A positive step in the creation of an independent nation is the Government of India’s announcement of $20 billion in packages for MSME and other sectors.
As part of our swadeshi initiative, the college has produced numerous robots, along with ventilators and other machines. Due to our reputation as the best B Tech institution, we understand the importance of innovation, and the production of the machine shows that we are utilising local resources and techniques, which will boost our economy, especially in the post-COVID scenario.
Further, the IT sector is one of our strengths, and we can not only meet our local needs but also serve in top positions in multinational companies on a global scale with our qualified IT professionals. Arya College Jaipur placements are excellent and many of our alumni are employed by renowned multinational organisations. Students who want to study engineering choose this college because of its reputation as one of India’s top private engineering institutions for this reason.
Aside from this, all participants agreed that reorganizing Indian Business along with reorganising your businesses organisational structure is one of the best ways to do so. The organization’s top management must be very careful when analysing how to cut costs by making necessary changes to the structure of the company.