Covid has pushed back world economy by 5-10 years, says Bata Global CEO

NEW DELHI: The Covid-19 pandemic is probably the “most significant” world event of our lifetime and has inarguably pushed back the world economy and people by 5-10 years, said Bata Corporation Global CEO Sandeep Kataria.
Though the pandemic has impacted almost every sphere of life over the last 15 months, he expressed hope of leaving medical worries behind soon given the “innovativeness and ingenuity” shown by the human race during this period.
While delivering the convocation address at XLRI virtually, Kataria said there would also be an inevitable rise of the new order, a new normal.
Kataria was conferred the prestigious ‘Sir Jehangir Ghandy Medal for Social and Industrial Peace’ this year by XLRI.
“When I look at the future with optimism – I am referring to the inevitable rise of the new order, a new normal – an opportunity to recast many of the notions that we have taken for granted over the last 50 years and provide an opportunity like never before,” he said.
Combined with the continuing changes in the geopolitical map of the world and tech disruptions, global warming and markets that have been gathering pace over the last decade, significant changes will be seen in the workplace, Kataria added.
“India with its demography, stable democracy and the famed Indian resilience and jugaad puts it and all Indians in a great position to gain from these changes,” he said.

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