In the wake of the pandemic, for the past few months, every human being is facing an unforgettable once-in-a-lifetime moment of their life. No one would have dreamt of this situation. Going to work, going to school & college was completely halted. Procuring groceries was out of reach of the citizens. For many weeks, people were in their homes due to the imposed lockdown. Travel was completely banned and closed down. No vehicles on the road as well as in the sky. Workers became workless and then penniless. Struggling to devour a single morsel. Many small and medium businesses collapsed. Only medicine shops and the grocery stores were allowed to open and that too for a specific time period. Almost everything was shut apart from essential businesses & services.
This catastrophic situation resulted in every company to switch its gears instantaneously to survival mode. Protecting the businesses before they get extinct was of paramount importance for them. While one of the plans of those companies who had their production base in China was to shift their production to a safer country. In the world over, there were tremendous negative sentiments against China as the virus originated from them.
The most of the functioning of the world gone virtual except for those who are in the essential services.
Auto Firms Moving Facilities Out Of China To Cover Geopolitical Risks:
The newly-elected President of the Society of Indian Automobile Manufacturers (SIAM) Kenichi Ayukawa who is also the managing director & CEO of Maruti Suzuki India said on Saturday, 5th September 2020 said that Many companies in China is relocating or putting plants in other countries to cover geopolitical risks and the auto and components sector must bring those investments or tie-up with them to produce in India. He also said that he would make efforts to organize some business exploration meetings with manufacturers of Japan to push make in India.
Such similar steps could also be taken up with South Korea, USA, and European countries while asking components makers to go for “maximum localization of inner parts and raw material in line with ‘Aatmanirbhar Bharat’ or self-reliant India drive.
One of the recent reports by Nikkei Asian Review also say that Japan is now offering subsidies worth ₹1,618 crores to companies moving out of China to India and Bangladesh.
Garment Companies Move Over From China To India:
Many garment companies are shifting their orders from China to India. It’s a litmus test for the industry, which if passed, opens the gate for more global brands to increase their India sourcing. Some garment exporters expect a 25% increase in sourcing this season. Retailers assert that they still need a lot of support on labour, financial, and infrastructure from the government.
Amitabh Kant, CEO of Niti Ayog, Government of India’s policy think tank, is a former Indian Administrative Services (IAS) officer who became famous for transforming the Indian tourism industry said that India has done very well in securing 79th position in the World Bank’s ‘ease of doing business’.
It’s a improved ranking. He also said that we don’t work for the sake of the World Bank; we work for ourselves. Further, they have ranked Indian states accordingly in easiness for start-ups.
The recent Agriculture bill that was passed focuses on Agri-business than just Agriculture.
He says that India is the only country in the world that has attracted $38 billion of foreign investment in a range of sectors even during the pandemic. Google — $10 billion, Facebook — $5.7 billion, KKR (US equity firm) – $1.5 billion, Vista Equity Partners — $1.5 billion, Saudi PIF — $1.49 billion, Sequoia — $1.35 billion, Walmart — $1.2 billion, Foxconn — $1 billion, General Atlantic — $870 million, Amazon — $308 million, Intel — $253 million, WeWork Global — $100 million, Qualcomm Ventures — $97 million, etc. Irrespective of the pandemic situation, India has been successful in attracting industries across the world to set up their bases here. Needless to say that it’s just a matter of time we have the vaccination program executed & largely covered by the end of 2021. It is certainly a piece of inspiring news that MBA students who plan to pursue their MBA in the pandemic year 2020; have good job opportunities by the time they complete their 2-year degree.
Hey, Entrance Test Not Compulsory for MBA Admission-2020
The AICTE recently announced that students are eligible to take admission simply on the basis of the marks they obtained in qualifying undergraduate exams. This timely step taken by AICTE at the backdrop of the Coved-19 pandemic is great news for students who looked for pursuing an MBA, however, could not appear for the entrance exam. Also, many who registered could not travel and appear for the exam due to the lockdown situations. The entrance examination was also cancelled.
What students should expect if they are going for an MBA degree in 2020:
1. Get ready for New Learning Experience:
Considering the safety of the students, at least this year students will need to stay away from the college campus as well as the traditional classroom environment. Professors are adapting to new training practices where technology is involved. Creating online content, recording lectures as per the restructured pedagogy. The role of digital technology is the catalyst behind bridging the gap between students and their learning. Management colleges are contemplating a blended learning approach called VILT (Virtual Instructor-Led Training) wherein students get the feel of being in the classroom digitally and seek the knowledge or skills and ask queries during the class.
2. Pandemic Friendly, Reformed Pedagogy:
Like Savitribai Phule Pune University (SPPU), many other Unis have opted for Massive Open Online Courses (MOOCs). Such online courses are developed as per the pedagogy stated in the AICTE regulation (2016) or equivalent; following the four-quadrant approach and made available on the SWAYAM platform of the Government of India. Some B-schools also have teamed up with International Universities to upgrade their learning program.
Monster India and AICTE sign MoU to Facilitate Employability and Recruitment
In the past according to the press release news, “All India Council for Technical Education (AICTE) has signed an MoU with Monster India, to aid in providing job opportunities to students and fresher candidates across India. As a part of this alliance, Monster India will act as an interface among students, colleges, and recruiters by empowering institutions approved with AICTE, to map their students’ talent and provide them with relevant job opportunities. Under the MoU, according to a press release, Monster India will manage and monitor campus recruitment activities of over 10,360 colleges approved by AICTE with a collective intake the capacity of over 36 lakhs students.”
Monster Inc.’s association with AICTE will allow greater access to students and colleges with a large pool of employers present on their database and provide relevant job opportunities. There is a huge skill demand and supply equation that currently exists in our country.
While announcing this, Anil D Sahasrabudhe, Chairman, AICTE, said that such MoU will help college students and fresher candidates seeking career opportunities. The young population is going to set the stage for a bright India tomorrow. (Source: NDTV.com/ Education).
I would specifically like to mention what our President said while addressing the 22nd convocation of IIT (Guwahati) through a video-conference from the national capital, “Students, I firmly believe that the future of a nation is what its youth is today. Your dreams are going to shape the reality of India. That’s why this is the time to be future-ready and future-fit.”
Considering these factors, as well as the “Atmanirbhar Bharat” Abhiyaan & the new education policy that was recently announced, will definitely play a key role in creating a self-reliant India.
Due to pandemic, there are definitely some challenges on the path, however, there’s no doubt that taking admission for a MBA degree in 2020 will turn out to be highly rewarding.