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Start to roll back in the year 2020 and the present just becomes more predictable. After the lockdown, market pulse was shaken, air was chaotic and paths were dust laden. But the people of India stood resilient enough and were ready to take up the fight of surviving the unknown.
India and its hard core Indian business community – Gujaratis, Punjabis, Mawaris and Baniyas have a steel nerve for business and hardly need any support from govt. or bank to get the businesses rolling. Let’s not loose ourselves in statistical data of 24% slowdown in GDP, which was due to NO ACTIVITY in April’2020. Now market graphs are swinging back to defy any depression, only urgent need is for government to do its job in time –
1. Ensure bureaucracy efficient working especially revenue and judiciary
2. Release the due payment to the contractors
3. Stop useless expenditure especially on media and point advertisements
4. Concentrate on attending & disposing applications at its various departments for clearance clarification and approvals.
5. Release GST Refund and due export incentive- DBK (Duty Draw Back) MEIS (Merchandise Export from India Scheme) in the shortest possible time
6. Make compliance simpler with single reporting not like present multiple department reporting.

The entrepreneur loses its human and monetary resources on multiple compliance formats.
And we hoped India would be back on track sooner than later. By the month of November’20, automobile higher sale coupled with 95000+cores GST collection proved that India was bouncing out of corona ill effects. The country had been growing since July 20. Domestic tourism, event management, festive celebrations, catering, malls and hotels all opened partially to fully, beating off the unfair market situations, contributed to the economy and GST. India will be back on GDP growth. Without any financial stimulus packages similar to that of the western world, Indian entrepreneur’s steel will and Indian consumerism driven by 350million plus middleclass has helped government to collect GST of INR 105000 crore. Indian consumer and entrepreneur have helped government to reduce its deficit. Kudos to Indians!
Every business big or small started to resurrect by the month of last Oct. to avail the festive high, markets opened up faster than expected. Marriage plans that were held back broke the shackles and the consequent consumption hailed more joy and celebrations to the marketers. Pandemic stricken apprehensions on foreign trips & travels brought the focus on domestic tourism from all the players in the field. Though few businesses and activities still continue in the shadow of COVID like that of education, event management, fashion, retail industry & eateries, all others have found a new way of operational syncing with e-commerce wave which is drawing newly emerging consumer trends pan India across sector boundaries. However the already sluggish real estate market may take a bit long to get its graph rising. As we wait to see mad rush at malls, food courts, entertainment zones, fine dining restaurants and multiplexes, more and more offices are functional now and shifting remote workforce back to physical presence in offices. The work-struck employees could start to reimagine their weekends in lieu of fixed weekday routines.

While the common man stops whaling over it and keeps the go getter attitude, we expect government to act & prioritize and put strict control on population, illegal immigrants; while committing to WHO, WB, IMF, UNO, WTO, FATF put India’s interests first and join worthy initiatives for climate conservation. These are just a few macro parameters that can skim sustenance for all of us here.
Though the above drivers of the growth are harbinger of rising hopes, climbing out of the hole would need more than our time (everything around commitment to democracy) to counter the 9.2% economic shrink in the GDP for the year 2020 (source: IMF & World Bank). We need reality bender moves and razor sharp reforms for financial sector supporting manufacturing and service sectors for a newly formed global competitive battleground. Here, the world has succumbed to economic disruption amounting to -4% GDP rate, a few advanced economies have marginally slipped @ -3% and would revive strongly this year with China (presently at 2% GDP growth rate) leading the recovery. So we have got to fight it out with new trends that must emerge round the business corners and would become imperatives of 20’s decade to resurrect India.