The Indian economy remained standstill under COVID-19 related lockdowns and social distancing. The pandemic COVID-19 has resulted in the fall in business & consumer confidence thereby impacting the overall economic and industrial activities. Many international organizations have slashed the growth rate of the Indian economy for the current year due to the daunting impact of pandemic COVID-19 on trade, industry, and economy.
However, the Government’s announcement of a mega economic stimulus package of Rs 20 lakh crore along with various structural reforms, relief measures, and a clarion call for AtmaNirbhar Bharat would go a long way to strengthen India’s economic growth trajectory. In addition, the Government’s decision to exit the Nationwide lockdown in a graded manner and gradual unlocking of the economic activities has led to the emergence of green shoots in the economy.
Despite the expectations of the revival of economic growth sooner than later, the challenges from COVID-19 induced uncertainty, global geopolitical tensions, and subdued global economic growth outlook cannot be ruled out. Going ahead, the economic and health risk posed by rising cases of COVID-19 in India calls for further prompt policy measures and continuous facilitation by the Government.
At this backdrop, the PHD Chamber of Commerce & Industry is organizing its Second Economic Conclave themed as Revitalizing Economic Growth on Friday, 11th September 2020 from 10:00 am to 1:00 pm. The objective of the Conclave is to discuss the current global economic scenario and measures that India needs to adopt to revitalize economic growth.
The agenda of the Conclave is to conduct deliberations on the revitalization of the Indian economic growth and suggestive measures for the same. The agenda of the conclave would focus majorly on the following points:
- Impact of COVID-19 on the Indian economy and key macroeconomic indicators such as the growth of GDP, Inflation, Fiscal Deficit, Current Account Deficit (CAD), Trade Deficit, IIP, among others.
- Impediments and imperatives to the growth prospects of the Indian economy in the current and next year.
- Thrust to the growth promising sectors of the economy, where India has a competitive advantage.
- Policies to boost Competitiveness and make India as next Export Powerhouse- To make India an essential part of the global supply chain, along with a focus on localization, import-substitution, and more and more indigenous production to create surpluses for exports.
- Attracting investments by focussing on enhancing the ease of doing business in the country.
- Employment creation for the growing skilled, semi-skilled, and unskilled young workforce in the country.
- The road ahead for the Indian economy- Suggestions to revive, sustain, and revitalizing economic growth and attain the goal of USD 5 trillion economies.
Dr. Lalit Khaitan, Chairman, Economic Affairs Committee, Ph.D. Chamber, and Ms. Yashika Singh, Co-Chairperson, Economic Affairs Committee, Ph.D. Chamber, solicit your kind participation in the Webinar.