Time to make right investments: Chandra

Covid-19 has been a harbinger of economic hardship, leading to an unprecedented crisis. However, it contains an opportunity for profound change and if brave, we could imagine a new way of living, said Tata

Sons Chairman N Chandrasekaran. He was speaking at the 26th Lalit Doshi Memorial Lecture, on Tuesday.

The current scenario, pointed Chandra, is an opportunity to make the right investments and leverage the strength of the country in R&D, science, technology, AI, advanced manufacturing, and nextgeneration products and services.

“We have the right human capital. We have the scale. It’s time to make the right investments. We need to start with our fundamentals,” he said.

His remarks come amid the century’s worst crisis, triggered by the pandemic. India’s GDP is expected to contract at least 2.5 per cent next year. Drawing a parallel with the Spanish flu of 1918, he said history shows that with the right sprit, progress follows a setback.

In a recent report, Nomura had said the June quarter would be ‘nadir’ from a growth perspective, and the economy would contract 15.2 per cent, while GDP growth would not

come back to positive territory this fiscal year.

It estimated a contraction of 5.6 per cent in the September quarter, 2.8 per cent in the December quarter, and 1.4 per cent in the March quarter — which means a full fiscal year GDP growth of -6.1 per cent.

“A century ago, the response to a pandemic inspired a movement that became the change that people saw globally. That is what we have in our sights,” he said, adding this was India’s opportunity for the decade ahead.

The pandemic, according to Chandra, could be a catalyst towards adoption of digital technology, which would pave the way for health and education to millions. It could also be a starting point to towards building a more resilient economy and creating a more sustainable future.

“These are the three things we need to do, to repair and fortify the fabric of the country. This is the springboard to a new India, the promise hidden in this crisis,” said the marathoner and Tata lifer, who has been steering the conglomerate since the present crisis.

The pandemic, according to him, could be a catalyst towards the adoption of digital technology, which will open health and education to millions

“A CENTURY AGO THE RESPONSE TO A PANDEMIC INSPIRED A MOVEMENT THAT BECAME THE CHANGE THAT PEOPLE SAW IN THE WORLD. THAT IS WHAT WE HAVE IN OUR SIGHTS NOW” N CHANDRASEKARAN Chairman, Tata Sons