In the present circumstances where Covid 19 has disturbed the whole country, everyone is finding it difficult to predict the future course of action. The major cause of concern is financial problem. Many people have lost their jobs, businesses have also suffered a great set back and everyone is worried. You might find it difficult to accept but let me tell you that this position will be changed and happy days will be back. Although it may not happen within a short while but rest assured October onwards you will find that the things will not deteriorate further and will start improving. From January onwards we may feel some visible positive movement in some sectors.
Actually, what happens when such pandemic like things occur? Everyone stops spending money. We spend very carefully on daily needs only. But even during this pandemic there are people who have earned a lot and you all know that. During such times money circulation gets disturbed and it gets accumulated in a few hands. As the nature of money is to keep flowing and to change hands but during pandemic it remains stuck up at one place for long time and same thing has happened this time also.
In 2007 there was recession all over the world and the public got scared due to which there was shortage of money in market. But that situation changed earlier than predicted. The reason was that we were a developing country. Even today we are developing country and hence, the things will roll out. In simple words, when the gravity of Covid 19 will reduce, those who have earned a lot of money during this tenure will start spending it either for purchasing luxury items to uplift their standard to another level or they will invest the same somewhere else. In any case, it has to come out. As soon as it will come out in circulation, the things will start moving towards normalcy.
Many of them will start new ventures, particularly in view of ban on imports from China, there will be lot of demand for normal goods. This demand will motivate those rich people to invest in new ventures which will create jobs and improve the money circulation. Secondly, with the improvement in conditions, everyone having money will start spending it instead of keeping it in safe custody.
What I forsee is not as bad as we are feeling today. As the Covid 19 fear will reduce, things will take a big turnaround. So, we need to think positive. Another reason for me to think in this manner is ban on Chinese imports and the Government’s proposal to boost make in India products. Many youngsters have started new ventures even during this pandemic. The number of Companies incorporated during the month of July 2020 is more than last year and it also shows a ray of hope. The need of hour is not to feel demoralize rather to think about encashing the opportunities lying ahead.
Our business community must think about starting or increasing their exports. The domestic demand is to be met by local businessmen as Chinese goods will no longer be available. So, get ready for coming bright future and pass this pandemic time in innovating ideas or thinking about new strategies of marketing. Best of luck to all Indians.
Be good, be safe and be positive.