Economy needs few more years to gain pre-covid momentum-Bagla

Aurangabad, July 27:

The Delhi-Mumbai Industrial Corridor (DMIC) has the potential to attract investment. However, seeing the current Covid-19 situation, it will be a matter of five to six years for any sector to regain the pre-covid momentum, said Deepak Bagla, managing director and chief executive officer Invest India while speaking in a global webinar organised jointly by the MSME start-up forum Bharat and Invest India recently.

The webinar received participation of entrepreneurs from all around the world. Director, Marathwada Accelerator for Growth and Incubation Council (MAGIC) and entrepreneurs Ashish Garde participated in the webinar from Aurangabad. Replying to a question asked by Garde about the specific efforts made by Invest India for attracting investment to DMIC and start-ups in Marathwada, Bagla said the momentum of investments has slowed down due to coronavirus. However, it will take nearly five to six years for the economy to spring back and become normal. Sustained efforts will be necessary for bringing in investments to DMIC and the country. Speaking about Start-ups Bagla said the government schemes like Start-up India has led to growth of start-ups in tier-2 cities. It will further benefit start-ups and help create an eco-system in small cities. Bagla also highlighted the investment opportunities available in India, showcasing potential opportunities and building infrastructure for global companies. He also briefed about the efforts made by Invest India in bringing global players to India and spoke on how to promote and work for marketing, export-import, designing, branding, capacity building, FDI and supports for MSME and startups.