Hyderabad: India needs to focus on four core areas to bring back the economy on track—medical solutions, monetary stimulus, fiscal stimulus and out of the box thinking. In these times, the best way to attract investment exiting from China is to follow the Telangana Government’s TS-iPASS model, the industrial policy that enables online approvals for industries within 15 days through self-certification mode. The model can be replicated by all the States in the country, said Nilesh Shah, MD, Kotak Asset Management Company.
Speaking at the Federation of Telangana Chambers of Commerce and Industry (FTCCI) Webinar- “Investor Confidence Building Measures-post Covid-19”, Shah said, “We are struck with economic, financial and medical crisis hitting all of us across the globe and at the same time through Coronavirus. We need to think ‘out of the box’ to come out of this crisis situation.”
India has the largest gold reserves, which is nothing but a dead asset. There is a need to monetise gold to revive the economy. On the stock market front, he said, investors should continue to remain invested and new investors should also make investments as they are available at fair prices and based on their risk appetite. And once the medical solution is available, the capital market in all likeliness will revive and cross the previous high.
Time to build investor confidence
Karunendra S Jasti, president, FTCCI, said, “The Coronavirus (Covid-19) pandemic is causing widespread concern and economic hardship for consumers, businesses and communities across the globe. Covid-19 has impacted socially and has affected the economy, rattling world’s equity markets for over two months now.”
He added, “Though all are worried about their families’ safety, the question that is subconsciously at the back of everyone’s mind is- what do I do with my money? Shall I conserve the cash or invest? And for some, the money is already invested in mutual funds and equity. They are worried as the returns haven’t been encouraging over the past few years and the present crucial situation has made it worse. It is time to regain and rebuild the investors’ confidence and also it is essential to understand the smart and disciplined investment strategies which are likely to reward the investors handsomely in the long run.”
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