Covid19 has made us all rethink the need of the hour: buy Indian and help resuscitate the injured economy.
A generally fast-paced world that is facing the most uncertain times, due to a crisis that no one could even fathom would have such far reaching consequences, has been forced to slow down and reflect.
This self-introspection has made many rethink their choices as the GDP according to economists will see a dip to 5 per cent, a new 11 year low. Keeping this in mind, buy Indian has become almost an anthem, to bring about a cohesive change in the economy and to re-energise its broken wheels and give it the much needed sustenance as it gasps for breath.
The DNA of uncertain times is that it brings out the best in some and the wheels were turned by front runners like Kolkata’s wonder boy Sabyasachi Mukherjee, followed by Anita Dongre who created a fund for artisans and also donated to the Prime Minister’s relief fund. The biggest Indian company Tata & Sons have been the leaders in mind, thoughts and also leadership that’s why their generous donation of Rs 1500 crore was endearing, while Azim Premji went ahead and set an example with a magnanimous $134 million donation.
Ambanis have donated a hospital and Bajaj Group 100 crores—- Indian corporates are showing great heart in ways that go beyond looking at merely profits and are crossing the Rubicon to help those who are marginalised by the pandemic.
The retail sector has been severely hurt due to its co-dependence on other ancillary industries, with a 2 billion dollar gap in the apparel industry with payments halted by international buyers. Fashion and lifestyle will be worst hit, as there are no footfalls and malls have been forced to shut, but the united stand on how to counter this once the situation eases is, buy what is made in India to boost the industry, and abandon the desire for foreign labels, especially what comes from China which boasts of the largest manufacturing facilities in the continent.
Many luxury buyers opine that the only way to energise the fashion landscape is encourage small designers, who have just begun and are struggling with financial burdens. As well as labels that are homegrown, but have a universal language that talk about India in their fabrics and colours and celebrate the cultural diversity the country, has to offer. This can save the design industry from seeing the worst upheaval ever.
An abandonment of anything foreign whether it is swanky cars, apparel or jewellery and footwear, in the times of discretionary buying, is the way to go ahead as this will put liquidity back into Indian businesses.
The appeal to all is —-let us all put in joint efforts to help the industry get back on its feet by making wise and informed choices which will have a reverberating impact on the Indian economy. The mantra is “be Indian buy Indian”!
Text by: Dhruv Gurwara