In this issue

Out of suffering have emerged the strongest souls; the most massive
characters are seared with scars.” — Khalil Gibran
Till mid-April, as many as 10,453 novel coronavirus cases were reported
across India, with 358 fatalities. Prime Minister Narendra Modi’s decision
to extend the lockdown imposed on March 24 till May 3 therefore, did not
come as a surprise at all.
Lockdowns and restrictions on movement have stifled economies across the
globe, disrupting supply chains and creating shortages of labour. An Asian
Development Bank report estimates that regional growth in Asia will decline
from 5.2 per cent in 2019 to 2.2 per cent in 2020. In India the pandemic
chokes an economy that had already turned sluggish. A recent report by
the Federation of Indian Chambers of Commerce and Industry (FICCI)
emphasises that the pandemic could derail India’s growth story.
Finance Minister Nirmala Sitharaman has announced a Rs 1.7 lakh crore
relief package for the poor. A package for the MSMEs is expected soon. Meanwhile, the losses of the
aviation sector mounted to $4-5 billion in the first three weeks of the lockdown, while those of the
automotive industry were at $2-3 billion. Losses of trucks and other logistics businesses are in the
region of $5 billion. The textile and apparel industry has lost $12-15 billion in earnings, while travel,
tourism and the hospitality sector saw losses magnify to $60-65 billion .

India’s reputation by reaching out to other nations in this hour of need. In a sense, he has turned
The Indian business community, which creates employment, contributes to the country’s GDP

keep it going. Our report on agriculture talks of how the agrarian economy could move back in time,

it. As Benjamin Disraeli said, “There is no education like adversity”. Happy Reinvention

BW Businessworld Magazine Description:

BW Businessworld is a fortnightly magazine that has been published since 1975. It is one of the most popular business magazines in India, and it is known for its in-depth reporting and analysis of the Indian business world. It also features interviews with leading business leaders and entrepreneurs. It's a guide to the ever-changing business landscape.

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