COVID-19 Business Support: New opportunities to continue business as usual
Amongst the uncertainty, we can be sure of a few things. In a global pandemic, personal and economic health go hand in hand. And, without doubt, our ability to adapt is protecting livelihoods.
In difficult times, we praise people’s ability to adapt. Sadly, the vaccine magic bullet is not imminent and so new business behaviours and adaptive continuity measures are here for the foreseeable future.
If that is the case: what does business as usual mean in the UK-India context?
It is too early to measure impact on UK-India business. However, the ripple effect from the pandemic is wider than you may initially think. It is not just those trading and invested in India that have been engaging with us at UKIBC. Those unfamiliar with India are thinking outside of the box, to re-engineer and safeguard their business too. Perhaps this is no surprise. COVID-19 is a leveller: revenue risk, supply chain disruption, employment concerns, and therefore overall financial exposure come to mind as common denominator problems.
Nevertheless, patterns are emerging. There is a need and desire to understand on-the-ground realities. Businesses know they need the right glocal strategy because the spread, and timing impact, of this horrific virus varies by geography. Layering local knowledge and insight is key to this. Eliminating information overload is proving crucial to help narrow down options before critical decision-taking.
India’s successful and ongoing efforts to improve the overall ease of doing business environment means UK businesses in India are showing full commitment. Those not yet there, have had their appetites whetted by India’s potential to be part of their solution during and post-COVID-19.
Today, no bilateral trade relationship can be quite described as business as usual. We are in uncharted territory. The size of the task cannot be underestimated. However, as we continue to support UK business in India already or considering India as a result of the pandemic, I suggest this relationship is one that may end up invigorated.
This blog forms the first part of a series as we at the UKIBC launch our COVID-19 business support service. If your company wishes to enquire how we can support you, email email@example.com with your issues or questions and our India experts will get back to you promptly.