By Shashwat Sharma, Arshpreet Singh, Anupam Gupta, Beverly Fernandes, Nishant Shah, Vaishnavi Kumar.
Ana Carla Abrão, Claudio Lago, Tim Colyer, David Bergeron, Aude Schönbächler and Abhimanyu Bhuchar also contributed to this report.
This article was first published on May 21, 2020.
Editor's note: Oliver Wyman is monitoring the COVID-19 events in real time, and we have compiled resources to help our clients and the industries they serve. Please continue to monitor the Responding To Coronavirus Hub for updates.
With its decisions of lockdown extensions and increased testing rates, Indian Central and State Governments have put in place measures to better manage the COVID-19 contagion curve and alleviate impact on the strained healthcare systems. However, the ultimate containment dependent on therapeutic breakthroughs is still months away. Curtailing the economic and humanitarian fallout requires the Indian Central and State Governments and industry players to address tougher and more urgent challenges than they have ever before.
Over the next 6-12 months, the Indian Central and State Governments are expected to sustain more stimulus packages and implement a strategy of controlled localized lockdowns with scaled up public health tools, including testing, tracing and selective quarantine. Indian industry players will need to show true entrepreneurial spirit and nimbleness to manage uncertainties in this New Normal, responding to changing consumer behavior, supporting their workforces and managing the overall economic impact on their businesses.
Our perspective shares thoughts for a recovering India in Lockdown 4.0 and calls to Government and Industry to work closer than ever before.