Corporates expect quick recovery in 2021

New Delhi, Dec 29 : 2020 has been one of the most challenging years as several businesses collapsed due to the global pandemic. As recovery takes root, many in India Inc expect a quick turnaround in demand cycle in 2021. As per a joint report by Bain & Company, Google and AWE Foundation, demand will be back to pre-lockdown levels in just three months from now.
While some corporates have adopted measures for a smarter working ecosystem, various other players are taking the digital transformation route to improve operations and efficiencies. Many others are gearing up to tackle the post-Covid world with new product offerings.
The sports segment was one of the heavily affected industries, but Rhiti Group adopted the digital mode for operations to escalate the audience engagements.
Arun Pandey, Chairman & MD of Rhiti Group, said: “Covid-19 will continue to haunt the Sports Industry in 2021 and we must leverage digital tools to drive newer and better revenue streams to survive the aftermath. We must explore new ways to fuel fan engagement and must be active in addressing social issues such as race, gender, and LGBT+ inequality and injustice.” The lockdown downgraded the automobile industry big time, as it worked hard to fight the economic slowdown but by implementing the new digital format of operations, the industry is set to set to upscale the business in the coming year.
Sharad Malhotra, President at Nippon Paint India (Automotive Refinishes & Wood Coatings) said: “We have used the crisis as an opportunity – with operational flexibility and lean manufacturing capabilities; our manufacturing will be more spread out, flexible and nimble than ever before. We are excited about our new lined-up service offerings and products that will expand our portfolio. We are hopeful to see good growth in 2021, giving good returns to our shareholders.”