India Economy & Government Initiatives to Boost

S. Thilak, Assistant Professor, SIMS

Introduction

India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers in the world over the next 10-15 years, backed by its robust democracy and strong partnerships.

Market size

India’s real gross domestic product (GDP) at current prices stood at Rs. 195.86 lakh-crore (US$ 2.71 trillion) in FY21, as per the second advance estimates (SAE) for 2020-21. India needs to increase employability growth rate and has to create 90 million non-farm jobs between 2023 and 2030’s, for productivity and for the growth of the economy. Employment rate has to be increased by 1.5% every year to achieve 8-8.5% GDP growth between 2023 and 2030. India’s foreign exchange reserves stood at US$ 582.04 billion, as of March 12, 2021. This is the Market of the country till FY 2021.

Recent Developments                                                                                 

There have been investments across various sectors of the economy in 2020, the total deal value in India stood at US$ 80 billion across 1,268 transactions and M&A activity contributed 50% to the total transaction value. Private Equity – Venture Capital (PE-VC) sector recorded investments worth US$ 47.6 billion across 921 deals in 2020. Some of the important recent developments in Indian economy are as follows:

• Our country’s overall exports from April 2020 to February 2021 were estimated at US$ 439.64 billion, which has been decreased by 10.14% over the last year. Overall imports from April 2020 to February 2021 were estimated at US$ 447.44 billion which has also decreased by 20.83% over the same period last year.
• Gross tax revenue stood at Rs. 113,143 crore (US$ 15.58 billion) in February 2021, last year it was Rs. 105,361 crore (US$ 14.51 billion).
• Cumulative FDI equity inflows in India stood at US$ 749.39 billion between April 2000 and December 2020.
• India’s Index of Industrial Production (IIP) for January 2021 stood at 135.2, against 136.6 for December 2020.
• Consumer Food Price Index (CFPI) – combined inflation was 3.87% in February 2021, against 1.96% in January 2021.
• Consumer Price Index (CPI) – combined inflation was 5.03% in February 2021, against 4.06% in January 2021.

Government Initiatives

The first Union Budget of the 3^rd decade of 21st century was presented by Minister for Finance & Corporate Affairs, Ms. Nirmala Sitharaman in the Parliament on February 1, 2020.  The budget aimed at stimulating the Indian economy through a combination of short, medium and long-term measures.

In the Union Budget 2021-22, capital expenditure for FY22 is likely to increase by 34.5% at Rs. 5.5 lakh crore (US$ 75.81 billion) over to boost the economy.

In March 2021, the Ministry of Electronics and IT (MeitY) invited applications for the second round of large-scale electronics manufacturing under the production-linked incentive (PLI) scheme. The door to apply for the scheme has been opened until March 31, 2021.

In November 2020, the Government of India announced Rs. 2.65 lakh crore (US$ 36 billion) stimulus package to generate job opportunities and provide liquidity support to various sectors such as tourism, aviation, construction and housing. India’s cabinet approved the production-linked incentives (PLI) scheme to provide ~Rs. 2 trillion (US$ 27 billion) over five years to create jobs and boost production in the country.

The Government of India, under its Make in India initiative, is trying to boost the contribution made by the manufacturing sector with an aim to take it to 25% of the GDP from the current 17%. Besides, the Government has also come up with Digital India initiative, which focuses on three core components: creation of digital infrastructure, delivering services digitally and to increase the digital literacy. This creates hope for the boosting up the economy and creating a job will increase the GDP.

CARGO SECURITY WITH LATEST TECHNOLOGIES

Dr.D.Sathishkumar, Asst.Professor, SANKARA COLLEGE OF SCIENCE AND COMMERCE

 For many year manufacturers face many problems in transporting the cargo’s to many countries, security of the cargo plays a major role, here we have many solutions to protect the cargos with latest technologies.

GT 1210 Solution: ORBCOMM’s framework joins resource following abilities with load and entryway sensors. The trailer GPS beacon recognizes entryway opens, course deviations, and stacked/dumped status. Constant alerts shield load from robbery and altering. The arrangement incorporates an adjustable application with dashboards and investigation.

IntelliScan Image Capture and Retrieval: Spireon’s freight detecting innovation supplements its Intelligent Trailer Management stage to give significant knowledge on trailer resources. The arrangement can distinguish freight load shift before entryways open. It limits freight harm by distinguishing inappropriate stacking and furthermore assists with the recuperation of taken load with time stamped documentation.

Labelmaster Cable Security Seals: These uncompromising, self-locking steel link seals secure railcars, freight entryways, doors, drums, and hazardous materials steel trailers. Labelmaster’s link seals give quick and secure securing capacities an assortment of materials and qualities, including C-TPAT-agreeable alternatives. They arrive in a scope of lengths and tones with custom stamping, numbering, and shadings accessible upon demand.

SC1302 Sensor: The smart device from CalAmp provides granular visibility for the safe transport of COVID-19 vaccines and other pharmaceuticals and perishables, as well as electronics and high-value shipments. The environmental sensor, which can monitor temperatures as low as -4 degrees F, integrates with CalAmp’s SCiOn Supply Chain Visibility software solution for end-to-end monitoring.

BlackBerry Radar: This end to end resource following and observing arrangement gives close continuous data about trailer, case and compartment armadas. Distinguishing unapproved use, it gives up to five sensor readings from one gadget, remembering holder for/off or entryway open/close, area, and mileage. It can convey to extra remote sensors for perceivability to the status and security of resources.

Tive Solo 5G: The multi-sensor tracker from Tive provides hyper-accurate location and condition data for in-transit shipments. It offers stun and light observing with constant cautions that help coordination’s experts effectively oversee shipments to stay away from preventable postponements, harm, and robbery. Light sensors let clients know whether a shipment has been opened—and assuming this is the case, when and where.

SEAFORCE X007 Bar Seals: The steel core bar protects and secures shipping containers, truck trailers, and railcars. Its straightforward plastic cover gives an enemy of altering visual sign. Made by American Seals, the item has a two-steel-pin framework for locking and fuses extra securing highlights.

Varcode Smart Tag: By consolidating temperature estimation into the information worth of the standardized tag, Varcode’s minimal expense arrangement secures the wellbeing of items in the virus chain. The Smart Tag triggers a worth change in the standardized tag if any of the different pre-set temperature occasions happen. It very well may be carefully perused by standard standardized tag perusers or by iOS and Android gadgets.

How to Deploy Emotional Intelligence for Work Success

Dr.S.SUNDARARAJAN, Associate Professor, Department of MBA, SANKARA

The concept of emotional intelligence (EI) has been studied for decades. At the same time, employers still didn’t embrace EI in the workplace. Maybe it was because they believed that emotional intelligence myths like the idea that there actually isn’t such a thing. That has changed as research has found that emotional intelligence was the strongest predictor of workplace effectiveness. Additionally, modern companies anticipates that the demand for technological, social and emotional, and higher cognitive skills will rise by 2030. And as we begin to embark on a post-COVID world, EI is more relevant than ever. With that in mind, here’s how we can deploy emotional intelligence to improve both our personal and organizational work success.

An easy place to start would be setting aside time each day to calm our mind. If we’re in a leadership role, this could be encouraging our team to frequently take breaks throughout the day and to use their vacation days. Also, when we know that they are unplugging, don’t bombard them with work-related issues.

The willingness to acknowledge our emotions is especially painful ones. That when we talk about vulnerability, we’re usually referring to emotional vulnerability. When our best friend suggests that we should work on being more vulnerable in our relationship, they’re probably not talking about making ourselves more physically vulnerable. In short, vulnerability is all about emotions. In particular, difficult emotions like anxiety, frustration, and shame. The other part of the equation is acknowledging these negative emotions and knowing how to address them

Emotional vulnerability might be painful or uncomfortable. But, it’s also a valuable asset. It can help reduce anxiety, strengthen relationships, and improve self-awareness. To become more emotionally vulnerable, psychiatrist recommends:

• Labeling our emotions using plain language.
• Engage in emotion-focused journaling.
• Practice being assertive by clearly communicating our wants and needs.
• Consider therapy or counseling.

Focus on mental health and well-being

Not to disparage the damage that the pandemic has done, one silver lining has been that it’s highlighted the importance of mental health. Managers can use your calendar to put your mental health first by:

• Limiting social media and screen time.
• Stepping outside for at least 20-minutes per day.
• Meeting with a therapist online.
• Minimizing isolation – even if it’s a quick phone or video call.
• Spending free time on meaningful activities we enjoy.
• Making self-care a daily routine

On an organizational level, leaders can use tactics like;

• Changing the culture where everyone feels safe to open up about their feelings and struggles.
• Launching an employee wellness program.
• Focusing on early intervention/prevention, like advice on how our team members can cope with stress and anxiety.
• Enforcing working hours.
• Cultivating a healthy and positive work environment.
• Granting autonomy and flexible schedules.
• Helping employees solve their time management problems.

Sharing is caring

Finally, don’t greedily keep our knowledge about EI to ourselves. If we’re aware of any articles, books, publications, or Ted Talks on the topic, share these resources with others. We could also schedule seminars or workshops for our team to do together. Another suggestion would be to discuss and model, the core principles of EI during meetings and one-on-ones. And, encourage others to test their emotional intelligence and schedule EI checkups.

Risks involved in New Product Development

• Dr.K.THIRUGNANASAMBANTHAN. ASST.PROFESSOR, DEPARTMENT OF MBA, SANKARA COLLEGE OF SCIENCE AND COMMERCE

New product development involves large amount risk like any business.  The main reasons for it is the technology is changing in a rapid pace.  If it is not launched at the correct time many competitor’s products can conquer the market.   There are also market-based threats such as commercial sustainability, consumer acceptance, competitors, and the product introduction window timing.  Most of the new products fail to fulfill the expectations of the consumers and those products ultimately fails.  Some of the products which are launched quickly into the market fails because they did not satisfy the customer’s needs.  The marketing managers in this case will be trying to push the product to the customers rather than addressing the needs of the customers and trying to pull the customer towards the product.  There are administrative risks like   fund availability, sponsorship, availability of staff and handling of production.  Other risks are the quality of the product, price of the product, features of the product in comparison with the competitor’s product. If the product is poor compared with that of the competitors, then it will be a failure.  Even though if the above features are good and if the company does not have good distribution system then the product will be a failure.

The calculation with related to the size of the market is another risk, if there is any miscalculation and the size of the market is not big enough to validate the investments made for new product development, then it will be difficult for the firm to recover.  If the positioning is not proper, then the product will be a failure.  If the pricing is not correct the product will not be accepted by the customers. The dependence of raw materials from a single supplier can also be hurdle in new product development, if the supplier is not able to supply the raw materials at the needed time, the production will be in stand still.  These are the risks involved in development of a new product.

CYTOKINE STROM FOR COVID PATIENTS

-V. VIDHYA , Assistant Professor, Department of MBA, SANSAC

Today we all know that world has going on second surge of Covid 19 where the cases are rising up high as well as the demand for O2 for the infected patients are also going up in a higher peak. So we all know that when Covid 19 virus infects it will be affecting our Respiratory system and the lungs gets damaged due to the inflammations. But blood O2 level also goes down during this problem. What can be the Medical science behind this? We think it’s the VIRUS that suppress our cells and destroy the blood O2, but the secret information is our cell is the enemy to our body.

To understand this concept we need to deeply study the IMMUNOLOGY of our body while virus attacks our cells.

Immunology behind the Virus attack:

Covid virus enters into our body and our immune system has an ability to respond to various microorganisms hence once the virus invades us our immune system produces various antibodies to attack the virus. Most virus cells will be same in shape and size like that of our own human cell so it becomes easy for the virus to enter into our body cell and uses the proteins and minerals to multiply and form a colony.

Any viral fever will lasts for 3 to 4 days. Likewise Covid 19 fever will last for 3 to 4 days and our immune system fights with the virus and kills it not more than 5 days. After the death of the Covid virus our immune systems assumes our own cells as the foreign body and attacks them. This makes the lung infection more severe and the cells are get damaged whereby increase the requirement of O2 artificially to the lungs. This concept in Medical Science is called as CYTOKINE STROM.

Cytokine Strom

Cytokines are produced by immune cells that causes acute respiratory distress and is the major cause of the death in the Covid 19 patients. The “cytokine storm” results from a sudden increase in circulating levels of different pro-inflammatory cytokines, including IL-6, IL-1, TNF-α, and interferon, which has destructive effects on human tissue. The elevated level of IL 6 may be the first indication that the patient is at the risk of Cytokine storm attack and respiratory infections.

Recent studies have found out that critical period of 5-7 days exist between the time of Covid 19 diagnosis and Multiple organ dysfunction syndrome. In most cases about 80% of patients tend to improve after the infection, 18% of patients will experience severe pneumonia and approximately 2% patients ultimately succumb to Virus.

To treat the cytokine storm in Covid patients researchers have recommended that immunotherapy is administered at the time of cytokine storm diagnosis. The early detection of cytokine storm can help the Doctors to assess the patient’s condition and can treat them accordingly

Conclusion

Whole world is in the clutches of this virus, but we should also remember that our own immune system is the one that fights this virus and elevates the cytokines to destroy our own cells. We need to have good immune system, in turn good food will induce good immune system.