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Economic Vaccine a need of the hour

A webinar organized by Indian Achievers Forum on a critical topic like banking and insurance sector’s role amidst the pandemic was keenly followed and participated. The topic elicited very in-depth analysis by the participants. In a way, the suggestions made can be examined by the government to prop the sectors that are currently facing enormous pressures. The Government and RBI have undertaken a slew of interventions to improve the sector and arrest the downturn. The speakers were optimistic about the turnaround in the two sectors. “I don’t expect the pandemic to impact the sector beyond a year…steady income will soon change the mood of people towards insurance sector,” said Mr M.N. Sarma, Secretary-General, Insurance Council & Ex CMD United India.

“Over the next third and fourth quarter, we (the industry) will cover up the lost ground due to pandemic,” said Mr Sanjay Agarwal, President, PHDCCI. He add that, the industry is very positive as the various economic indicators in the last few months point towards a revival. Chief Guest was Mr K J Alphons: Rajya Sabha MP, former Union Minister of State for Culture & Tourism, highlighted the importance of every individual in India, contributing to the economic growth. “The Prime Minister, MP’s and MLA alone cannot take India out of the current situation; every individual who has a meal should come forward to provide a bit.” He said anyone capable of contributing the minimum possible should step forward. Some of them are doing. He mentioned about the way, ‘Mother’s Meal’ a voluntary organization of a few hundred people not known to each other have fed millions of people during Covid.

Shri Shiv Shankar Lathure, MD & CEO Suyog Telematics Limited, acknowledged that during Covid the infrastructure sectors especially telecom has done well and his company has contributed to the economy because of a spurt in telecom infra business. Commenting on the need to be cautious while economic revival is attempted Mr.  Gaurav Kapoor, Vice President, National Stock Exchange, said, “We need to protect ourselves and remain healthy to protect the economy.” Many luminaries in the two sectors attended the webinar. The Chief Guest was Mr KJ Alphons Rajyasabha MP, former Union Minister of State for Culture & Tourism. Other attendees were Mr M.N. Sarma, Secretary-General, Insurance Council & Ex CMD United India; Mr Hemant Bhargava, former CMD of LIC; Mr Gaurav Kapoor, VicePresident, National Stock Exchange; Mr M.Narendra, Ex-Chairman, and Managing Director, Indian Overseas Bank; Mr K Sanath Kumar, Ex. Chairman Cum Managing Director, National Insurance Co. Ltd.; Mr G K Rao, former Chief Secretary of Tripura and Chairman of the State Finance Commission of Tripura; Shri Shiv Shankar Lathure, MD & CEO Suyog Telematics Limited; Mr Sanjay Agarwal, President, PHDCCI; Mr.Ashish Garg, President of the Institute of the Companies Trades of India. It was well attended by more than 300 participants along with Mr. Harish Chandra, Executive Director of IAF and Mr. Amit Goenka, Director of CSR Times.

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