Sajjan Jindal Calls For Urgent Steps To Prevent Indian Economy From Falling Into Slumber
It is imperative to also move focus on economic well-being, says JSW Group Chairman Sajjan Jindal.
Industrialist Sajjan Jindal is seeking urgent measures to prevent the Indian economy from falling into a slumber due to the coronavirus lockdown.
The lockdown has had a positive effect in containing the Covid-19 pandemic, but it is imperative to also move focus on economic well-being, the JSW Group chairman said.
"We need to rise now to ensure that the economy does not fall into a slumber that will take huge efforts to awaken. A depression in the economy is also a threat to this nation," he said in a statement.
The virus will be a threat till a vaccine is found, Jindal said. "However, we need to find ways to work within a 'new normal' to bring this economy back to capacity in the shortest period of time.”
India has effected the world’s strictest lockdown, shutting all but essential goods and services for 40 days. The move brought economic activity to a standstill as workers stayed at home to minimise risk of infection.
The government relaxed the lockdown guidelines from April 20 to spur a stalled Indian economy that was slowing even before the pandemic. Companies, however, are still tip-toeing back to normalcy.
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A company spokesperson said JSW Steel Ltd. has restored production to pre-lockdown levels. The company’s seven blast furnaces across country are now fully operational, he said.