Business Expert Shares Tips on How India Can Protect Companies Amid COVID-19 Crisis 

Amid the coronavirus outbreak and crisis, Chief Economic Editor of the Financial Times Martin Wolf shared his ideas and gave key tips on how India can protect its companies from the economic impact due to the coronavirus. He further advised that India must protect domestic companies at all cost in order to restart the economy.

While speaking to India Today during the E-Conclave Corona series, top financial commentator Wolf said Indian government has to make “large guarantees” to companies, who do not have the capacity to sustain operations during the lockdown period. He further suggested that, the government should take elaborate steps to help restructure company debts and offer a pragmatic relief package for them. 

Wolf also stated to put on hold all current bankruptcy proceedings against companies. These tips comes at a time when big and small firms in India are hoping and requesting the government to come up with a relief package. So that, the companies can pay their employees and also look into other financial matters. 

Further speaking on issues including the future outlook of world economy, Wolf estimated that, the world could see a massive economic slowdown for the next two years. He also claimed that, the upcoming year will be extremely bad in terms of economic growth. 

During the discussion, Wolf also offered another advice to the government asking them to save companies livelihood. "India has to protect people who have been drastically affected and are suffering the consequences including job losses. Ensuring that people’s welfare continues to be supported in necessary," he finally added.