BUSINESS GROWTH IN INDIA IN THE COVID ERA

 

The year 2020 started with a bang but in the last nine months, the world changed drastically with hospitals, vaccines and facemasks becoming the mainstay of our lives. The Covid-19 pandemic has brought countries to a complete stand-still and has affected the global economy adversely which is witnessing one of the worst recessions of recent times. Uncertainty reigns supreme and speculation about a bleak future is further impacting the situation.

The Pandemic has brought in unprecedented disruptions across sectors. From suspending flights and trains to restricting the movement of people and vehicles, it has had a large-scale impact on the Indian economy too. Indian businesses have also suffered due to poor consumer demand, supply fluctuations and lockdown restrictions. The companies further walk on the tightrope of restoring their production systems as well as keeping their employees safe. With a slowing economy and the Covid-19 pandemic, Indian companies had begun to cut jobs since April. Those that didn’t take the layoff route went for pay cuts. This scenario was made worse by India’s strict coronavirus lockdown in the months of April and May. Supply chains were put under severe stress with the lockdown restrictions in place; initially, there was a lack of clarity in streamlining what an "essential" is and what is not. Those in the informal sectors and daily wage groups have been at the most risk. A large number of farmers around the country who grow perishables also faced uncertainty. And so did the entertainment industry, from stand alone cinema halls, to multiplexes to stage performances, all halted, performing artistes are still having a very difficult time. Even sponsorships for programmes are fast drying up.

To help needy performing artistes and folk artistes, Bikram Dasgupta Foundation Kolkata has rose to the unprecedented occasion. As one of the leading Social Aid Organizations of India, Bikram Dasgupta Foundation Kolkata works in areas that are very close to Global IT leader and founder Bikram Dasgupta’s heart. Being one of the Social Aid Organizations of India it endeavours to fulfill the requirements of the most-needy sections of society.

In 2019,  Dasgupta launched Calcutta Broadway (CB), a unique platform  to ‘give back’ to performing artistes, who entertain us, make us smile, feel the fun or delve into the depths of intellectual and social activism by weaving magic through music, theatre or dance. Ever since its inception, Calcutta Broadway as one of the leading musical Social Aid Organizations of India has been successfully promoting talented budding artists through Youth Channelization and has been taking care of their needs through unique initiatives like Calcutta Broadway Health Card. In fact, the first batch of beneficiaries received the unique and comprehensive Broadway Health (Insurance) Card on 12th December 2019 at the Tollygunge Club.

Mr Dasgupta’s primary aim is to introduce to the world, upcoming young artistes in the field of performing arts who otherwise do not get a platform to showcase their talents. Youth channelizing is thus an important aspect of his work. His out-of-the-box innovative thoughts are evident not only in his professional ventures but also through his Social Aid Organization. Calcutta Broadway is all set to change the very notion of entertainment and unfurl a whole ‘New World’ of entertainment that Kolkata has never seen before!

However since September 2020, Indian economy particularly the core sector has seen signs of improvement. Passenger vehicle dispatches picked up in August to levels higher than last year. For the first time in 20 months, they grew year-on-year. Again, this growth was on a low base and partly in anticipation of higher festival sales. Retail sales also picked up. Tractor sales showed sharp improvement (75 per cent) in August, helped by rising rural demand. Domestic air passenger growth (-82 per cent) showed no material improvement. Broadband subscriber growth remains in positive territory but growth remains much below the five-year-average level. Consumption indicators could improve further in the coming months because of pent-up demand and the festive season.

Some of the large manufacturing companies are, therefore, planning to reimburse salaries for the workmen of some of the contractors who are unable to pay. This humane approach in tough times is bearing positive result. Several Social Aid Organizations of India like BDG Foundation Kolkata have also come forward in this endeavour. Calcutta Broadway has recently done a charity show called Maa Ashbei in aid of needy performing artistes, backstage technicians and spot boys who are mostly out of their jobs due to Covid-19. On October 17, 2020, just before Durga Puja, Calcutta Broadway hosted a unique online Broadway show, Maa Ashbei. It featured a host of well-known classical singers and musicians who shared the platform along with lesser known talented young blood. The show received overwhelming global response. Bikram Dasgupta Foundation donated the entire proceeds from the show to backstage technicians who lost their jobs due to the pandemic and to needy artistes. Thus again they proved they are one of the leading Social Aid Organizations of India that came to the aid during difficult times.

Bikram Dasgupta Foundation through Calcutta Broadway has also introduced Gen Y to the rich cultural heritage of Bengal, including mind-blowing theatre and music. As part of Youth Channelization and Inspiration, Calcutta Broadway blends the nostalgia of Calcutta’s old stage memories with contemporary fusion music and plays, encouraging Gen Y to preserve the rich and varied heritage of Bengal. Other than the unique Health Card, Calcutta Broadway through Sponsorships, Scholarships, Awards and Workshops holds regular events with a view to reach the cultural scenario of Calcutta to newer heights!

Calcutta Broadway is very supportive of young artists which is also part of the Youth Channelising initiative and has devoted its Youtube Channel to showcase their talents. However, things seem to be looking up for performing artistes. Following the fifth phase of Lockdown or Unlock 5.0 measures, the Ministry of Home Affairs (MHA) issued a new set of rules for effective relaxation towards the lifting of Lockdown rules and cinema halls, multiplexes and drama theaters were allowed to operate with 50 per cent of seating capacity. Shopping malls, single screen cinema halls and multiplexes re-opened their doors but the response so far has been lukewarm. With zero footfall, paucity of cashflow, the industry looks at resilience during difficult times. Experts fear that many shops in malls might have to shut down altogether as costs mount. Under this circumstance, the ancillary workers associated with these establishments have once again come under severe threat to their livelihoods. Most companies trimmed their workforce. People working in restaurants, bars, departmental stores, sales counters, cleaners, ushers, security guards et al are already under severe stress and the Unlock 5.0 has not been effective so far to lift the shadow of gloom and despondency  hanging low over them.   

Bikram Dasgupta Foundation Kolkata, came to the aid of workers during Lockdown. As a Social Aid Organisation of India it has been working relentlessly providing free rations to workers and also supporting Baul families of Birbhum, aiding the weaker section of the society in myriad ways and providing relief to the people whose livelihoods have been affected by the pandemic. We are living in unprecedented times. While none of us have experienced the specific details of the challenges before us, we are not without resources to help see us through. Social Aid organizations like Bikram Dasgupta Foundation have been at the forefront of this war.

The COVID-19 pandemic has laid bare our vulnerabilities, divisions, falsehoods, and brutal inequalities. These deep divides in the fabric of our society weaken our resolve for peace and lead us to question what it is about our cultures that create so much room for insecurity and what role better leadership might play. Social aid organizations like Bikram Dasgupta Foundation will lead us and the society through the darkness into light.