Experts consider the progress of covid-19 vaccination important to strengthen industrial production

Experts consider the progress of covid-19 vaccination important to strengthen industrial production

New Delhi: With the pace of industrial production continuing to fluctuate in the Kovid-hit domestic economy, market analysts say that the pace of vaccination and control of infection are necessary to improve demand and strengthen industrial activity in the market. According to the partial data released by the government on the Index of Industrial Production yesterday, the growth of industrial production in April stood at 134 per cent year-on-year, indicating a moderation in comparison to March this year.

The government has said that in view of the way industrial production was affected in the wake of the nationwide strict lockdown in April last year, it is not practical to compare the figures of April this year with that of the government. On the figure for the growth rate of industrial production for April 2021, Neesh Bhatt, founder and CEO of investment consultancy company Millwood Cane International, said that this time the figures cannot be compared with April last year because of the harsh lockdown in most parts of the country at that time. was applicable.

Bhat said the industrial growth in April this year was 13 per cent lower than in March. 'The second wave of Kovid has had an impact on the industry. This is also reflected in the figures for April. He said that only after the Kovid vaccination has reached a significant level, the corona virus infection is under control, and the governments are allowed to continue the legitimate business, the industrial work will come back strongly. Vivek Rathi, Director (Research), Knight Frank, a real estate market research firm, also said, “We believe that the role of the Kovid-19 vaccination campaign will be very important in the days ahead. This will boost consumer confidence and boost demand. This will enable utilization of production capacities and improve the rate of growth of industrial production. 

Madhavi Arora, Chief Economist, Emkay Global Financial Services, said this year's industrial growth is showing a strong jump of 134 per cent in April, while activity has weakened due to a favorable basis of comparison. He said that the industrial production in April grew by 12 percent as compared to March 2021. In states like Maharashtra and Delhi, the local level of lockdown has affected production. Maharashtra contributes 18 per cent to the Gross Value Added (Manufacturing GVA) of the country's manufacturing sector. Madhavi estimates that 'if we assume that the maximum outbreak of Kovid-19 will be confined to the first quarter of this financial year and a large part of the population will have been vaccinated by the first half, then manufacturing and manufacturing in the second half due to the emergence of demand. Overall GDP growth will start showing improvement. 

He says that after the first wave of Kovid-19, the graph of improvement in the economic condition was fluctuating in the 'K' shape of English. It had a bad and disruptive effect on the labor market. Fiscal stimulus was less than effective enough. In his opinion, the role of capital and profit in the improvement of economic activity will be more and it will hardly show improvement in the condition of labor market and wages. The government has decided not to release the full industrial production (IIP) figures for the month of April. 

Last year also, the government did not release the IIP figures for the month of April due to the lockdown implemented due to the Kovid-19 epidemic. In June last year, the National Statistical Office (NSO) withheld the IIP data due to the impact on industrial production due to the nationwide lockdown on factory production. This year also the full figures for April are not being released. The IIP in April this year stood at 126.6 points, which is almost the same as that of April 2019. However, it shows a growth of 134 per cent over April last year, as industrial activities were largely closed in April last year. NSO said in a statement on Friday, "Due to Kovid-19, March, Due to the nationwide lockdown and other restrictions imposed in late 2020, most of the establishments could not operate in April 2020. Due to this industrial production was also negligible. Due to which the full figures of IIP have been affected. Hence the figures for April, 2021 cannot be compared with that of April 2020."  

Amazon India to set up digital centers in various cities to support small industries

Amazon India to set up digital centers in various cities to support small industries

New Delhi: E-commerce company Amazon India is planning to open digital hubs in various cities to connect Micro, Small and Medium Enterprises (MSMEs) with its platform and empower them in online business. These centers will help small industries in their digital business by providing awareness and related facilities about e-commerce and will accelerate their growth.

Pranav Bhasin, Director (MSME, Sales Partner Experience), Amazon India said this. The company has opened a digital center for MSMEs in Surat, Gujarat earlier this month. This center will act as a resource center and will help in meeting the needs of MSMEs as well as solving their problems. Through these centers, the company will provide awareness and understanding about e-commerce, export market information, etc. 

Bhasin said, “We have planned to set up digital centers near clusters of small industries in the country to empower MSMEs in the field of digital business and to address their problems.” However, he did not say that Amazon. In which cities and by when India plans to open such digital centers. It is noteworthy that MSMEs play an important role in the country's economy. It contributes about 30 percent of the total Gross Domestic Product (GDP) and 48 percent of the exports. 

Bhasin said, “We recently opened the first Amazon Digital Center in Surat, Gujarat. This center will cater to all the needs of MSMEs to become digital entrepreneurs. In this, MSMEs will be given all kinds of support in terms of benefits of e-commerce and logistic support, digital marketing, GST and taxation. are MSMEs. These centers will help them in their digital business and accelerate their growth. We have set a target of digitally enabling one crore MSMEs by 2025, including through Amazon Digital Center. 

On benefits to MSMEs from e-commerce, Bhasin said, “From the beginning, we have been focused on digitally empowering MSMEs and other vendors by using technology to connect and reduce operational costs for them. . Our investments in technology and infrastructure have fueled their growth." He said, "It is because of our efforts that today lakhs of small and medium businesses are joining us. 

More than 10 lakh artisans and weavers and over 1.5 lakh local offline stores are working with Amazon through franchisees. More than 70 thousand small manufacturers have now launched global brands and exports have already crossed $3 billion.” He added that has more than 8.5 lakh sellers and more than 90 per cent of them are MSMEs. . More than fifty percent vendors are from small and medium towns like Aligarh in Uttar Pradesh, Angul in Odisha, Idukki in Kerala.