When we watch people losing their lives and livelihoods daily; all the hardship and turmoil that COVID-19 has brought upon us, it is hard to see things in a positive light. India has lost close to 4531 lives (as on 28th May 20) to the virus and the Indian economy is taking a hit of an estimated $4.5 billion every single day due to the pandemic.
But thank God, human beings have the potential to see things in a positive light even at times of trouble. Despite the health crisis and economic turmoil, there seems to be a silver lining in the stormy dark clouds of COVID-19 for India. Here are some reasons why.
The next manufacturing hub
Global trust and reliability level in China is at an all-time low because of the way it has handled the coronavirus outbreak. Countries such as Japan and South Korea have already decided to shift their companies from China and many other MNCs are eager to leave the country now. In fact, close to 1,000 foreign manufacturing companies are ready to shift their base to India even as we speak.
In a post-pandemic world, India has a good chance of becoming a global manufacturing hub if the central and state governments can formulate the right policies and take concrete steps. India with a working-age population of 64% and a large English-speaking workforce is well-positioned to take advantage of this unexpected opportunity.
A major trade and commerce player
India has maintained a low infection curve compared to other developed countries such as China, Italy, Germany, Brazil, France, Russia, UK and the United States. If we are able to contain the spread soon and end the lockdown, it means lower collateral damage to the economy. In a post-COVID-19 world, this may position India to become a major player in commerce and trade.
A good time for mutual fund investment
Though mutual fund investment returns are at a historic low due to the COVID-19 crisis, we all know that the market will make a comeback as things gradually return to normal. This is the best time for Indian investors to take advantage of rupee cost averaging and increasing their fund value by continuing their SIP investment plans. For the time being, you can lower your exposure in equity funds and focus your SIP investment plans on debt funds and balanced funds.
Additional Read – Investing Advice by Experts for Investment in Post Pandemic World
Improvement in disaster management capabilities
The pandemic has shown us how various state governments along with the central government can work in unison to provide economic, medical and food assistance to the people. Cutting across party lines, regions, languages, religion and culture, COVID-19 has shown us that we can act as a united front in times of trouble. Many countries have praised how India has handled the outbreak.
Importance of cleanliness and hygiene
Cleanliness and hygiene has taken center stage due the pandemic. Whether we are rich, poor, a slum dweller, a villager, or a business tycoon, we have understood the importance of washing our hands and being careful about how we conduct ourselves in our daily lives.
Last but not the least; the lockdown has literally been a breath of fresh air, especially for those living in the metro cities. We hear of rivers and lakes looking cleaner than ever before, mountain ranges becoming visible from balconies and terraces, rare birds and species making their appearance, and original weather patterns and climates being restored.
According to a report by Global Alliance of Health and Pollution, more than 2 million people die in India due to pollution-related diseases, which is the highest in the world. The ongoing lockdown has shown us that ensuring cleaner air is possible. Though a blanket lockdown is not a viable option, the government can take a leaf out of this period to take practical steps to curb pollution in a post-pandemic world.
The pandemic has taught as many lessons and given us an opportunity to retrospect our lives. It has offered us an opportunity to spend more time with our loved ones and pursue our hobbies at home. Most importantly, we need to realize that this storm will eventually pass away but the decisions we’ll take now will significantly impact our future. Therefore, take it easy, stay safe at home and plan for a bright future.
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