Lockdown has severely disrupted supply chains: Niti CEO

The coronavirus lockdown has massively disrupted India's supply chain, Niti Aayog CEO Amitabh Kant said on Saturday. Speaking at a virtual session on 'COVID-19 & The Future of Work', Kant further said the pandemic has created a unique challenge, which is complex and unpredictable.

"We are passing through a very turbulent time. Our supply chain will get massively disrupted," he said. India is on a 40-day lockdown till May 3 to contain the spread of the coronavirus.

Also participating in the session, World Bank Country Director (India) Junaid Kamal Ahmad said for developing countries, it is important that the state changes the way it works. Ayushman Bharat scheme was a great step but in the coming years, it is imperative to ensure India goes beyond it, he added.

TeamLease Chairman Manish Sabharwal said, "Work from home has provided continuity but also has to ensure productivity. In the long run, we have to ensure that remote working is beneficial for all." Sabharwal said the virus has shown that India's economy has three existing conditions that are problems -- we are much less formalised, much less urbanised and have much less financial inclusion. "Essentially, our labour is handicapped without capital and our capital is handicapped without labour," he said adding that the economy needs a dose of labour, social security, financial and education reforms to tap the opportunity offered by this crisis.

He added that the country needs a dose of education reforms. "Ayatollahs of education and UGC have made sure that only 30 universities out of 800 can offer online learning in this crisis. US institutions have signed up 200,000 Indian students during the past one month." NASSCOM President Debjani Gosh said the COVID-19 pandemic will change work spaces forever, give a huge boost to the gig economy and ensure a better balance in the workspace, ensuring more participation of the female workforce. Hero Enterprise Chairman Sunil Munjal said India has the potential to take over the supply chain of the world.

"We are well-positioned, rated as better managers of the COVID-19 crisis. We have the ability to attract more ideas and talent, all we have to do is repurpose ourselves," Munjal said..