Advocate Sushila
GOVERNMENT MEASURES TO ENSURE SUSTAINABLE DEVELOPMENT OF GLOBAL ECONOMY

GOVERNMENT MEASURES TO ENSURE SUSTAINABLE DEVELOPMENT OF GLOBAL ECONOMY

Recently, around 28-04-2020 to 01-05-2020, the #Government of India discussed the importance of regional and global #cooperation to effectively deal with the #Covid19 #Pandemic crisis, with various #G20 member countries and other #countries such as Thailand, Bangladesh, and Myanmar. These countries have mutually agreed to form a coordinated #global response in the following manner:

1- Owing to the Pandemic and the #Lockdown situation across the world, various households, companies, Government departments, business entrepreneurs, etc, have been relying on #digital mode of communication and transactions.

Thus, the Government of India has assured that the Information Technology (IT) and IT Enabled Services (#IT-ITeS) industry would develop softwares and applications to build an effective and safer #cyberspace.

2- The Covid19 crisis has caused disruptions in #supplychain and as a result, there have been cases of shortage of essential commodities, such as agricultural and processed food items, in some countries. Thus, the Government has encouraged Indian industrialists and exporters to #export certain commodities to such countries in the near future and has ensured adequate incentives for the same.

3- India has assured various countries across the world including Thailand, Indonesia, Canada, Bangladesh, and Myanmar, to maintain the supply of medical products, pharmaceutical requirements, and/or other commodities in order to mitigate the impact of the Pandemic.

4- India and Thailand have expressed interest for collaboration of researchers, scientists and innovators of both countries.

5- India and Canada have agreed to collaborate in the field of #research and development, and technology, for developing #vaccine, and/or other remedies, to resolve the COVID-19 issue.

Further, these measures may also provide opportunity to both small-scale and large-scale #businesses in the country to manufacture, supply and export essential commodities to other countries and thereby, generate #revenue and employment opportunities in the country.

Thus, the aforesaid large-scale cooperation efforts, technological advancements and continuous supply chain management may help countries to soon revive the global economy and resolve the Covid19 issue.

Harini Daliparthy

Senior Legal Associate

The Indian Lawyer

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