On Anand Mahindra's birthday, his suggestions for reviving economy

Anand Mahindra turns 65 today. The chairman of Mahindra Group is known for sharing his wit, humour and advice on social media and is particularly active on Twitter with 7.7 million followers. He has been sharing words of wisdom during these trying times when India has been battling COVID-19 and the economy is gasping for breath. Here are some quotes of his on how India can exit lockdown, how the economy can be brought back on track and how we can all make the most of the situation.

On learning new skills during lockdown

Mahindra's thoughts on economic impact of lockdown

The lockdown's necessary, but will be devastating for the homeless, daily wage earners and contract workers. If each of us takes care of the daily rations and essentials of at least 3 less privileged families, it will have an exponential effect but unlike COVID, it'll be a 'good virus.'

Anand Mahindra's 100 %  salary contribution

The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed and those whose lives depend on meager daily wages. We will encourage associates to voluntarily contribute to the Fund. I will contribute 100% of my salary to it and will add more over the next few months. I urge all our various businesses to also set aside contributions for those who are the hardest hit in their ecosystems.

On lockdown exit strategy

If a 'calibrated' lifting of the lockdown means sequential opening of different parts of the country, then industrial recovery will be painfully slow. In manufacturing, if even one feeder factory is still locked down, then the final product assembly will be stalled. Research suggests a 49 day lockdown is optimal. If true, then post that duration, I believe the lifting of the lockout should be comprehensive. Containment by exception based on widespread tracking & testing, isolation only of hotspots & vulnerable segments of the population.

Coronavirus, a blessing in disguise for businesses

The crisis will pass, but I think it's making the world press a permanent 'Reset' button. It'll accelerate working from home, lead to more digital 'virtual' conferences, more video calls, fewer meetings and less air travel, leading to a greener footprint. Anything else?

Mahindra's thoughts on India's testing rate

India has done a fine job, so far, of managing the crisis. Preemptive measures for containment have been lauded the world over. But our testing rate could be our Achilles heel. We need to allow the private sector to begin testing & scale up our capacity dramatically.