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Economy in better shape than last year, says CEA

Economy in better shape than last year, says CEA
KV Subramanian
New Delhi, Apr 16 (Agencies) | Publish Date: 4/16/2021 1:38:38 PM IST

The Indian economy was in better shape compared to last year when the Covid-19 pandemic occurred due to vaccine availability, said KV Subramanian, chief economic adviser at a virtual event on Friday.

Despite the second wave, uncertainty was much lower as India emerged from the initial situation of the pandemic, where the focus of the government was to save lives, Subramanian said.

“Overall, we are in better shape as vaccines are already on the market and vaccinations are being promoted compared to the previous episode, so I think the uncertainty is much lower. “CEA addressed the Amazon Smbhav Summit.

India faced a shortage of Covid-19 vaccine after exporting millions of vaccines, but its daily cases reached a record high of 217,353 in the last 24 hours.

According to Subramanian, SMEs needed to focus on gaining global competitiveness.

“The ability to lead to independence is built through competition. SMEs recognize it so that they can enter the global market, compete and export, thereby benefiting themselves and the country. I think we have to, “he says. Said.

According to the CEA, India could benefit from the accelerated digital shift caused by the pandemic by encouraging public-private partnerships to add value to data using technologies such as blockchain.

 “I think that’s an area where public-private partnerships can really be important. The value-added data that these public-private partnerships can actually generate can be useful for healthcare, finance, trade, and trade credit.” He said.

Subramanian said companies are responsible for improving their workforce and encouraged large companies to partner with educational technology companies to improve their skills in SMEs.

“I think the combination of large companies and some educational technology can play an important role in actually enabling SMEs to improve, improve and re-skill,” he said. It was.

 

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