Primus in Media
Authored by Major General Rohit Gupta, SM (Retd), a Combat Arms Officer, retired as the Additional DG, Weapon and Equipment of Indian Army. Presently he is heading the Aerospace and Defence practice in Primus Partners.
Nirmala Sitharaman Highlights: job benefits, easier loans, tourism booster, more economic relief measures
“The FM has increased the outlay of the emergency credit line guarantee scheme for MSMEs to Rs 4.5 Lakh crores and added new credit guarantee schemes to support MFIs and covid impacted sectors including health. These are welcome relief measures, especially for the small borrowers providing them with a safety net. Also, with the relief being a guarantee instead of an outright cash handout, there is limited impact on the Fiscal in the short term. These measures will help alleviate distress in the short term. However, a fiscal push will be needed to negate the impact of the second wave on economic growth. The FM has announced a new credit guarantee scheme for MFIs to facilitate loans of up to Rs 1.25 lakh per individual. The measure is designed to provide a safety net, especially to small borrowers. However, the coverage at only 25 Lakh individuals will need to increase to generate the desired impact,” quotes Shravan Shetty, MD, Primus Partners.
Talking of the future, Nilaya Varma, CEO of consulting firm Primus Partners says, “though there has been a significant rise in demand from households for air filtration equipment, most industries are yet to install such equipment for hygiene and environmental purposes. This could change given the COVID-19 experience”.
Surge in digital productivity to create jobs, help India become $1 trillion economy by 2025: MeitY secretary
Sawhney, as well as Jain along with TV Ramachandran (Founder & CEO of advisory), Leonid Todorov (General Manager at the Asia Pacific Top Level Domain Association), Nilaya Varma (Founder & CEO of Primus Partners), and Gaurab Raj Upadhaya (Chair APNIC Executive Council), were speaking at a virtual event organized by NIXI on “Digital Economy – expanding footprints”.
On the occasion of completing 18 years, the National Internet Exchange of India hosted a webinar on “Digital Economy – expanding footprints”. The Webinar was chaired by Mr Ajay Prakash Sawhney, Secretary Ministry of Electronics & IT (MeitY), Government of India and was moderated by Mr Anil Kumar Jain, CEO NIXI along with panellists Mr TV Ramachandran (Founder & CEO of advisory), Mr Leonid Todorov (General Manager at the Asia Pacific Top Level Domain Association), Mr Nilaya Varma (Founder & CEO of Primus Partners) and Mr. Gaurab Raj Upadhaya (Chair APNIC Executive Council) who shared their views during the webinar.
Nilaya Varma, co-founder and CEO of Primus Partners, said: “As India works towards being self-reliant, there has been a consistent focus on reducing imports. But as we work on strengthening the domestic manufacturing ecosystem, there would be a lag to create capacity. To manage this period, especially amid the pandemic, it was critical to ensure that procurement of supplies directly related to the containment of the pandemic is seamless.”
5G is set to bring on outstanding growth in multiple sectors, especially healthcare. The long-term changes in the healthcare industry will aid better patient care, ease the burden on healthcare professionals, and have a much broader reach to ensure quality healthcare for everybody.
He thinks the scheme has “immense benefits” to offer for the restaurant sector if executed well by banks.
Shravan Shetty, MD, Primus Partners concurred.
The services sector, he stressed, has been hit harder than manufacturing, and troubled sectors like hospitality, aviation and tourism required additional financing support. But for the scheme to play out effectively, he said, the banks must come to the fore. “The window is expected to help the services sector tide over the impact of the second wave, but the transmission mechanism remains with the banks. That challenge remains,” he said.
Nilaya Varma, CEO, Primus Partners said, “Record forex reserves of nearly USD 600 billion is providing both RBI and to an extent the government as well to push growth. The need now is for the government to step in with a fiscal stimulus given limited room for private investments providing the required push.”
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