US-India Business Council upholds Covid lockdown importance; eyes adaptation opportunity

While the national lockdown due to the Coronavirus crisis has raised several concerns amid businesses, an American business chamber welcomed it and said that the businesses are adapting to certain ways to ensure its continuity. As highlighted by US-India Business Council President Nisha Biswal, amid the lockdown, the businesses are taking measures to allow safe operation of essential businesses and supply chains. 

Speaking to the news agency ANI, she said, "We'll follow the decisions and guidance of government authorities on any extension of the social distancing measures in India. Judging by what is happening in the US, Europe, we anticipate and are prepared for these measures to be necessary for a while longer." According to her, a safe and sustainable availability of migrant labour to keep supplies flowing to the "at home" population is more important during the crisis situation. 

'An opportunity for India'

According to Biswal, India could hold the potential for diversification of supply chains and manufacturing after the lockdown. She said, "It's an opportunity for India to play a more robust role in the manufacturing of many different product lines in the near term. Companies are increasingly thinking about diversifying their manufacturing and supply chain, not just to have it housed in one country but to think about more regional production"

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Chamber suggests 2nd round of measures

Lauding Prime Minister Narendra Modi for his steps towards handling the situation, the business chamber recommended a second round of measures to be put in place by the government of India to support businesses. Biswal said, "The second round of economic measures really should focus on what do businesses need to get through this time period. We suggested that the government should think about some strong stimulus measures that can really help keep Indian businesses afloat, through this time."

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The Coronavirus crisis

According to the latest update of the Health Ministry, about 5,274 cases of COVID-19 infection have been reported in India including 4,714 active cases. While 149 deaths have been reported overall, around 411 people have been cured. Currently, the highest number of cases have been reported from Maharashtra and Tamil Nadu. 

Presently, there are around 1,513,935 confirmed cases of COVID-19 worldwide, which has led to the death of around 88,433 people. Along with it, around 329,731 people have reportedly recovered. Leading the number of global positive cases of coronavirus, the United States has become the new epicentre of the pandemic surpassing China, Italy, and Iran. 

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(With ANI Inputs)