Confederation of Indian Industry organized a Digital Conference on Business Disruption-Reviving Economy: Challenges & Opportunities in Post-COVID-19 World through online.
Addressing the industry members at Digital Conference R Karikal Valaven, IAS, Special Chief Secretary, Department of Industries & Commerce Government of Andhra Pradesh said that Government is supporting the industry through Re-Start package. As a part of Atma Nirbhar Bharat Abhiyan Package Government is supporting the MSMEs (micro, small, and medium scale enterprises) with collateral-free automatic loan with outstanding loan of ₹25 crore or annual turnover of ₹100 crores, he said in his address. He urged the industry to follow safety guidelines issued by Government to re-start industry in the state.
R Karikal Valaven also said that Government is keen to attract investments by leveraging opportunities arising in post-COVID-19 scenario.
Addressing the state of economy Rama Subramaniam Gandhi, Deputy Governor (Retd.,), Reserve Bank of India stated that Government is addressing the COVID-19 crisis through calibrated manner by maintaining balance between lives and livelihood. Speaking about the COVID-19 crisis, he said that it is distinct from previous financial crisis. Infact, he felt that creating required demand is vital for growth in the economy.
Stating about the distinct nature of Indian economy which has significant contribution from agriculture, Industry and Service sectors has different challenges and opportunities in Post COVID-19 scenario. Agriculture sector would continue to play vital role in the emerging Post COVID-19 scenario. Constructions sector will have different challenges due to lack of demand, he added in his address.
Ravindra Sannareddy, Managing Director, Sri City Private Limited in his address highlighted about the Government initiatives to support industry during the COVID-19 crisis. He felt that Andhra Pradesh has a advantage in attracting investments with the passage of Chennai-Bangalore Industrial Corridor and Visakhapatnam-Chennai Industrial Corridors.
JVN Subramanyam, IAS, Director of Industries, Government of Andhra Pradesh in his address said that Andhra Pradesh is a best investment destination for doing business in the emerging post COVID-19 scenario. Andhra Pradesh offers cost advantage with good infrastructure facilities by having connectivity to ports and international markets.
The Conference witnessed participation from Singapore Business Federation and Korea Trade-Investment Promotion Agency (KOTRA) to collaborate on the business opportunities emerging in post COVID-19 scenario.
D Ramakrishna, Chairman, CII Andhra Pradesh in his welcome address said that there has been change in the business trends and need to focus on evolving opportunities in the present context.