Covid 19: A Blessing in Disguise for India
It is a known fact that COVID 19 has been the most devastating thing that has happened to mankind, but it is also responsible for creating revolutionary changes in Technology and for providing a much-needed makeover to Indian Economy. It indeed taught us those things that we used to imagine; work from home, distance learning are examples to it.
The Deadly Virus had originated in China, from there it went on to affect all the continents on the planet. The entire turn of events has caused an Anti-China Sentiment among many nations including India and as a fuel to the fire, the Galwan valley incident fired a nationwide protest named as “#Boycott China”. At this point of time we need this sincerely, China holds major of our businesses which, if started in India could aid the economy to a great extent. China currently dominates the Electronic and Hardware sector which is due to several reasons, such as Communist government and strict labor laws. China dominates 40% of our business. 467.49 INR Billion is the worth of all Chinese products Imports made to India, the amount is higher than GDP of many nations, and this simply describes why there is a need of Boycotting China. It made us so weak that we are not able to produce even a single smartphone on our own.
There might be a question why we can’t develop even a Smartphone, well there are multiple reasons:
- We don’t produce High Grade Plastics that are used in Smartphones.
- Large-scale Production of Microprocessors is not Available.
- The LED Screens are yet not Produced in India.
- China offered all of this stuff in cheap prices
If we dedicate a considerable amount of time and resource in re-developing and overcoming these barriers, we could definitely earn huge profit because India is the biggest Consumer of Smartphones. Not only smartphones but the entire Electronics and Hardware industry needs to be renovated this way. A ban is supposed to be put up on all sort of Imports taking place from China. Then on temporary basis these imports shall be continued from those nations that resemble China in terms of Production such as Taiwan or Vietnam, this will keep the ongoing industries which intake materials from China working despite the ban, and in this timeframe we need to explore all the possibilities of making these Raw Materials here in India and Importing only those which are not available with us. In doing so, we need to be looking for the concept of “Disruptive Innovation”. Disruptive innovation is a concept or an idea that completely changes the way business models work. At present, if we have to strengthen our economy then we need to be independent with our raw material. An example of Disruptive Innovation is Internet, it has completely revolutionized the concept of Business in the modern era. Government’s role becomes really important for fulfilling this concept, where in the Torch-Bearer’s for us could be Indian Industrialists and drivers of change will be Skilled Workers.
For using the above explained concept, the Government will have to take initiative and provide more encouragement and support to such SME/MSME’s, initially they wouldn’t provide much profit but with patience they could later turn into an asset for Electronics Industry. The government on the other hand is planning to counter this Domination of China, Government of India has launched ‘Aatmanirbhar Bharat’ scheme which emphasizes on the importance of becoming Self-dependent with respect to those Sectors, that are majorly dependent on foreign import. We also have some positives. In some cases, where we have the capability to grow independently, the reform has already begun. Indians were among the biggest consumers of Chinese Software Applications, but with the development of better and much more secure Indian apps, not only Indians but International users are moving towards our products. Indian IT sector has seen rapid growth and it is expected to stay unaffected in the post COVID Era, with many more unique ideas getting inculcated into ventures, this domain will definitely give major brands a run for their money. India emerges as the first-choice destination for many US-European companies due to its reliability and large availability of human resource. Recently 52 Chinese applications were banned in India due to the security issues they possessed to the user. The US Government had already proposed to ban TikTok app as it was causing severe collecting user’s personal data, that could pose a high risk to the concerns of National Security. This again made the entire world cautious about the unethical behaviour of China and also provided an opportunity to the Indian IT Sector to make these products in India with better Security and Integrity, and today you will find Indian Apps for all these utilities. Not only this we are creating software solutions for companies across the globe, the same peak can be achieved in the case of hardware as well with apt policies and execution.