Primus Publications

MONTHLY SECTOR UPDATE: Chemical Industry - Issue: June 2020

India’s chemical industry is anoutperformer from global standards, from the perspective of returns to shareholders. The market is an attractive space for players looking out for growth. This outperformance of the industry has led to high expectations for sustained, continual growth of the industry’s top line and bottom line. The broad-level perspective on the Indian business environment indicates that while the short-term outlook is challenging, the country’s long-term growth story remains positive.

Download to read more about “Global trends: Uncertainty for the world, possibilities for India…”

MONTHLY SECTOR UPDATE: Education Edition 1

India’s development model relies on building competent, sustainable and resilient societies, where learning communities of school and college systems lay the foundations to drive inclusive growth. While COVID-19 has challenged the very premise of our education provision, can we use this moment in time to effect a dramatic shift in the New Education Policy? We hope that the experiences from different parts of the country as a response to alternate learning approaches straddling offline and online can help inform policy across primary, secondary and tertiary education.
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The world has seen unprecedented times since the beginning of this year and the times continue to be such that it is difficult for the industry to get back to normal business, let alone accelerate to make up for the lost time and opportunity.

In these times, stimulus packages and / or reforms have been announced by governments world-wide and across all sectors. In India, for the aerospace and defence sector too, mid to long term targeted reforms have been announced. Increasing the scope of MSMEs, a negative list for imports, banning global tenders for procurement up to a threshold and corporatization of OFB are some of the most over-due reforms that have now been announced. The other announcement of setting up a PMU is also a welcome reform.

The Indian defence sector is moving forward… (Download to read more)

Digitalisation of Education: A readiness survey

In order to successfully navigate crises like the COVID-19, there is a need for India to readily adapt and develop resilience towards transforming our challenges into opportunities. We now have the opportunity to gradually move towards a digital (r)evolution for our education systems; however, in order to provide solutions, it is imperative to understand the current online readines s as well as challenges of our students, teachers and education ecosystem. The ASSOCHAM and Primus Partners joint survey was answered by 466 students and 483 teachers across various states in India. The respondents belonged to a variety of educational institutions across India; government, government-aided as well as private.

Aatma Nirbhar Bharat Abhiyan: Economic Package 2.0 (Summary)

The Government of India’s INR20 lakh crore economic package aims to support the country through the unfolding crisis and also realign its focus for future growth, by offering a package equivalent to 10% of the country’s GDP. The focus of the measures is also on structural reforms announced as part of this package showcase the country’s focus on strengthening the India opportunity, by becoming ‘aatmanirbhar’. The call to drive local businesses is geared towards developing the domestic market to cater to the demand of the consumption-driven economy and reducing dependence on imports. At the same time, the country intends to strengthen its manufacturing ecosystem to Make in India, for India and the world.

Aatma Nirbhar Bharat Abhiyan: Economic Package 2.0 (Part 4)

The fourth part of the economic relief package announcements today focused on driving reforms to bolster the Indian industrial ecosystem and create a competitive landscape that can enable domestic industries to match global standards. This opening up of sectors and reforms are essential to inviting private investments and liberalizing the industries through transparency to allow for autonomy, industrial growth and job creation. We await additional announcements tomorrow, to complete the picture of the Economic Package 2.0. Here is the summary of Day 4 announcements:

Aatma Nirbhar Bharat Abhiyan: Economic Package 2.0 (Part 3)

The third part of the economic relief package announcements today was to protect the livelihoods of the people while simultaneously propelling the economy. The measures were to strengthen India’s agriculture and animal husbandry and support those who work in these sectors. This was in keeping with the message of the Prime Minister for attaining self-sufficiency and working towards establishing a greater international presence as the world recovers from the pandemic. We await additional announcements in the coming days, to complete the picture of Economic Package 2.0. Here is the summary of Day 3:

Aatma Nirbhar Bharat Abhiyan: Economic Package 2.0 (Part 2)

The economic relief package announcements today focused on the most vulnerable segments of the Indian society which has also perhaps suffered the most in this crisis. These measures are targeted towards the rural and urban poor who have suffered the most during the pandemic, including farmers, migrant workers, street vendors and the homeless. Today’s announcements were compassionate and critical for the financial security and continuation of economic activity. We await additional announcements in the coming days, to complete the picture of Economic Package 2.0. Here is the summary of Day 2:

Aatma Nirbhar Bharat Abhiyan: Economic Package 2.0 (Part 1)

The second economic relief package announced by the Government is a much-needed step for the most vulnerable businesses from the impact of COVID-19’s economic fallout. The core theme remains providing cash for restarting as working capital. It also puts reforms (MSME definition) at the centre of growth that will help India position itself as a key destination for investment and long-term economic growth starting Q3-Q4 of this FY. We await additional sectoral announcements in the coming days, to complete the picture of Economic Package 2.0. Here is the summary of Day 1:

BW Business World: Battling the virus

BW Businessworld and Primus Partners presents a study that maps initiatives taken by the states to contain the spread of the virus and keep their people safe. Read all about the efforts of each state in,  ‘Battling the virus’.

COVID-19 impact on Indian Industry

  1. Most Indian businesses are operating at limited capacity, owing to supply chain disruption and movement constraints. This is adding to their financial burden and making it difficult to pay interest and EMI against loans and salaries.
  2. The current quarter is expected to be strenuous for most businesses, with things expected to improve from July. At the same time, most businesses are looking at minimal disruption to
    their workforce, to ensure readiness when operations resume to full scale.
  3. Economic uncertainties are forcing businesses to reduce costs and consider deferring long-term capex plans. The coming few weeks will determine the extent to which businesses will have to tighten purse strings, as the stituation unfolds.

India opening for Business – Suggested calibrated approach and potential SoP

As India continues to work on controlling the pandemic, we also recognize the need to plan and take steps for gradual opening of the economy to protect the overall interest of the nation as well as help the most vulnerable

ASSOCHAM - Consolidated recommendations to manage the impact of COVID-19

Business Continuity Measures

The Government should consider a phased reopening to ensure that full economic activity is restored without losing the gains made during the current lockdown. Business activity should resume at the earliest, to avoid further financial distress. It would not be easy, but essential for the economic sustainability of the country.

New Schemes Announced by Ministry of Electronics and Information Technology (MeitY)

SOPs and Guidelines for Construction Sites for COVID-19 Outbreak

In response to COVID-19 outbreak, NAREDCO, under the guidance of Ministry of Housing and Urban Affairs (MoHUA), Govt. of India, has defined the following Standard Operating Procedures (SOPs) and guidelines to ensure safety of construction site workers. In addition to trained Supervisor(s), a Site Safety Representative (SSR) will be deployed at every site, to ensure the safety guideline is followed. Necessary trainings will be given in advance to Supervisors and SSRs, so that they can train the workers further.

India Fights Back COVID-19’s Impact

After the unprecedented lockdown of 21 days was declared for the entire country, various measures were
announced by the central and state governments in response to COVID 19 pandemic. This document
highlights few of the major steps taken by the centre and select state governments.

Recommendations for a National Response to the Economic Impact of Covid-19

The world is now struggling with the global outbreak of novel Coronavirus (Covid-19), which was declared a pandemic by the World Health Organization, with the likelihood of spreading to all countries on the globe. The novelty of the virus also extends to its impact on the way of life and business. The timing of this pandemic creates an urgent need for long-term action to support financial stability across sectors. With global players realising the need for a diversified global supply chain, after China being adversely impacted, it is the opportune time for India to showcase its capabilities in the space. Our vast experience in supporting the society in the time of need and also our focus on government and private sector interventions, make us best placed to help facilitate such an initiative. It would be our responsibility to identify areas where we can intervene to create a more robust ecosystem that can drive economic growth.

India Moving Forward: Journey towards a $5 trillion economy

India’s growth journey has been momentous so far and given the demographic dividend that the country enjoys, the long-term growth prospects are even better. The last few years have established a strong base, upon which the next phase of growth can be built. Supported by a determined government, India has set a vision of becoming a $5 trillion economy. It is therefore critical to chart the roadmap, highlighting the transformations that the economy and society would need to undergo to achieve the vision. The report, ‘Transforming for the future: a journey towards a $5 trillion economy’ highlights some of the critical transformations that India would have to undertake to achieve long-term growth. The report studies the various economic, social, regulatory, technological and environmental facets, where the government and industry should collaborate to help India achieve the $5 trillion vision. We trust that this report will be helpful in encouraging discussions on the future steps that stakeholders should take to drive economic growth.