Month: June 2021

Categories
Business motivation

5 Top Reasons Why Small Business Owners Must Embrace Business Automation

5 Top Reasons Why Small Business Owners Must Embrace Business Automation
5 Top Reasons Why Small Business Owners Must Embrace Business Automation

Computers, Robots, Artificial Intelligence, and the internet: these are some of the first things that come to our mind when we talk about technology that most businesses are using in this modern era. Some of the most impressive recent advances in technology and process efficiency are rooted in automation.

Business automation is becoming more frequent because it is both less expensive and more accessible. Today, it is used for everything from sending out “automated” away messages when you are out on a vacation to building high-rise apartments and cars.

Automation in a startup business can save your company money and time. But one thing that we should keep in our minds is that even the most advanced software or technology will be far from perfect. Why? That is because the creation of technology involves coding which is done by humans. Hence, a scope for human error is always present.

But every business requires reliable and faster communication, and business processes to boost growth. So if you are still doing a lot of business processes manually, without any further delay here is a list of the most essential benefits that every business can certainly drive from business automation:

1. Communication which is Faster & Reliable

For businesses that operate not only across India, but also outside the country, a reliable mode of communication is necessary. If telephone lines are not working, alternatives must be readily available. Thanks to various instant messaging apps, many local business owners are now able to promote their business across various states in India.

Multiple modes of communication ensure that the business operations will not be disrupted. Fast internet connections have made it possible to transfer vital information regarding a business across vast distances in seconds. This enables telecommuting that not only gives access to high-quality talent in places but also reduces human resources cost.

2. Increased Efficiency & Productivity

Technology can help to enhance efficiency and productivity in multiple ways. There are many processes like maintaining accounts, billing, payroll, and asset management that can be automated by using business software that is available in the market. It will not only help to manage their operations but will do it more efficiently.

Also, technology can help many startup businesses to automate their repetitive tasks that do not require an elevated level of decision making. This can give more effective results and productivity.

3. Increased profit & Reduced Cost

Where business automation can increase efficiency and productivity from technology, it also results in decreased operating costs and an increase in profits, eventually. Advanced technology can also eliminate the unnecessary travel expenses for meetings and other supervisory work. Most of these activities can now carry out on live video chat and other collaboration platforms. This does not mean that one should remove the personal interactions and meetings, but it can help to reduce the need to be physically present in one location to work with other employees.

4. Enhanced Security

With the latest technology like blockchain, businesses can work to implement better ways to carry out financial business transactions more securely without compromising transparency and creating layers of security.

5. Greater Transparency & Interconnected Operations

Multiple business processes are complex and also involve countless types of transactions. But with advanced business software and technology, you can integrate these processes seamlessly. Also, when it comes to sharing and processing business data, you can automatically collect, process, and present everything in a readable format.

Technology is omnipresent. But many businesses resist embracing technology and those who refuse to do so may be bound for failure. But to ensure business growth is it essential to be well acquainted with the pros and cons that come along the way.

If you have a business idea and want to build your startup around it, you can take our ‘Entrepreneurship course’.

Categories
Finance

FM Rolls Out Loan Guarantee Scheme To Revive The Worst-hit Travel & Tourism Sector

FM Rolls Out Loan Guarantee Scheme To Revive The Worst-hit Travel & Tourism Sector
FM Rolls Out Loan Guarantee Scheme To Revive The Worst-hit Travel & Tourism Sector

Due to the Covid-19 induced pandemic, the tourism sector across the globe has been affected badly. Not only it has been downhill since 2020 due to imposed guidelines and travel restrictions, but it is still on its knees trying to find its balance.

The Finance Minister of India Nirmala Sitharaman, on Monday, announced a new 100% guaranteed loan scheme that will be provided to registered tourist guides and other travel and tourism stakeholders who are facing a financial crisis.

Tourist guides who are registered at the regional or state level and are licensed can get loans up to INR 1 Lakh with a guarantee. A total of 10,700 regional level tourist guides are recognized by the Minister of Tourism and state governments would benefit from the scheme.

Loans with an upper limit of INR 10 Lakh would be available with a 100% guarantee to travel and tourism stakeholders such as travel agencies. Around 904 stakeholders are recognized by the Ministry of Tourism who are eligible for this loan guarantee scheme.

The Finance Minister said that under the new loan guarantee scheme for Covid affected sectors, working capital or personal loans will be provided to people in the tourism sector to discharge liabilities and restart businesses impacted due to Covid-19.

Categories
Motivational

Four Powerful & Practical Ways To Stay Motivated As A Solopreneur!

Four Powerful & Practical Ways To Stay Motivated As A Solopreneur
Four Powerful & Practical Ways To Stay Motivated As A Solopreneur

Nothing can beat the feeling of being your boss. It has a charm, an unexplainable excitement, and an incredible allure. And the term ‘Solopreneur’ is a perfect blend of all these emotions. Though the term is not new in the industry, where some people are not very well aware of this term, many others confuse it with entrepreneurs.

However, being a solopreneur is a lot different from becoming an entrepreneur. Many people choose to work for their business ideas, dreams, passion, and to find fulfillment. But, it can also be lonely when you have to don multiple hats and juggle between various business challenges, all alone.

Being your boss has its perks, but running a business all by yourself requires a lot of discipline, focus, and resilience because, on this journey, you are bound to encounter stumbling blocks along the way.

So, apart from taking some of the most essential business training programs to stay updated, here are some powerful tips to help you stay motivated to weather ups and downs in the business:

  1. Pace yourself!

That`s because good things and successful business take time to build up. Growing a business is a marathon, not a sprint. Being a solopreneur can rapidly become a 24×7 job if you are not careful. Especially during the early stages of a business, solopreneurs put in very long hours with no end in sight. And then it is just a matter of time when you become tired, exhausted, and discouraged.

Hence, finding a work-life balance is extremely important to keep working for the dream you have in your eyes and the passion in your heart.

  1. Always have Support System

Flying solo may sound amazing, but it requires a lot of a strong support system. Friends and families are irreplaceable, but there are many other resources like a business mentor or a motivational coach.

A business coach or a mentor can offer their expertise and professional advice to guide a solopreneur in the right direction. Dr. Vivek Bindra, who is one of the best business motivational coaches in India provides consultation for long-term business growth and development. His mentoring technique is more short-term and performance-driven.

The use of business coaches has become prevalent in India and small business owners are increasingly using paid coaches for overcoming challenges. Hence, finding a support system for solopreneurs can be beneficial for their business.

  1. Celebrate Small Wins

The more you praise and celebrate your small wins in life; the life will give you more reasons to celebrate. As a solopreneur, it is crucial to celebrate small milestones along the way to keep your drive to run business and the motivation to do it, super high.

The key is not just to keep your eyes on your main goal, but also to enjoy the progress you are making. The better you feel about yourself and your progress, the more effort you will put in without feeling frustrated and discouraged.

  1. Always Remember ‘WHY’

As a solopreneur, you will encounter your share of challenges and setbacks along the way. This is why it is so important for you to remember your “why”. Remembering the sole reason why you have started to come this far or why did you start your business in the first place will energize you. Getting in touch with this big-picture will help you to remain focused. It will also provide you with a renewed perspective to make wise decisions.

Just because you start small, don`t forget to think big! Where being a solopreneur is not always easy, but it is probably rewarding, perhaps every single time. By following the above-mentioned tips, you will be in a better position to remain energized, so that you can ultimately reach your long-term goals.

Find solutions for your burning problems? Get practical solutions easily with our step-by-step Problem Solving Courses with learning strategies, action plans, frameworks that are designed to empower you with various business functions.

From finance to HR, Digital Marketing to IT & Sales, find creative solutions to prominent business problems easily. To know more about it,

click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads.

Categories
MSME

SIDBI Joins Hands With Global Alliance For Mass Entrepreneurship To Help MSMEs Revive

SIDBI Joins Hands With Global Alliance For Mass Entrepreneurship To Help MSMEs Revive
SIDBI Joins Hands With Global Alliance For Mass Entrepreneurship

The Small Industries Development Bank of India (SIDBI) and the Global Alliance for Mass Entrepreneurship (GAME) have entered into an MoU to help the MSMEs overcome their challenges that were elevated during the pandemic, along with the longstanding capacity gaps in the sector.

The MoU covers vast themes that include expanding credit access, building competitive clusters, increasing formalization, and improving the legal framework for ease of doing business.

Both the organizations also committed that 25 percent of the beneficiaries from the partnership would be women entrepreneurs.

The partnership will also focus on areas that include scaling up Udyam Registration as a unique ID for an MSME to access schemes across the entire MSME universe, leveraging SIDBI`s financial schemes to further formalize enterprises, among others.

According to GAME Co-founder Mekin Maheshwari, “This long-standing experience combined with the force of GAME`s 80+diverse partner alliance should ease the access to credit and a range of new support services for MSMEs at large scale.”

“We hope the power of the Alliance can be leveraged for nation-building efforts such as formalizing MSMEs and substantially improving access to credit & non-financial services,” said SIDBI Chairman and Managing Director, Sivasubramanian Raman.

Categories
Business motivation

How To Overcome 3 Challenges That Every Solopreneur Faces During Business Journey!

How To Overcome 3 Challenges That Every Solopreneur Faces During Business Journey!
How To Overcome 3 Challenges That Every Solopreneur Faces During Business Journey!

Whether you are a solopreneur or an entrepreneur, when you start your venture, a lot is riding on your shoulders. You are like a one-man army who has to do multiple tasks on your own. You are a staff of your own, which is why you have to don a hat with multiple feathers.

From setting up working hours, how much revenue you generate to how many clients you have is completely up to you. You are your boss. You set your own rules and reap the rewards.

But these rewards are received only after putting in the time and effort to set your business up for success. Creating a full-time long-term business involves more than just getting good clients from time to time. Becoming a successful solopreneur requires proper planning, follow-through, constant learning, amazing business ideas, and having reliable partners.

So if you have started a step to venture out on your own, here are few challenges that solopreneurs often face and few helpful suggestions for how you must overcome them:

  1. Learn to Market Yourself

As a solopreneur, your business is based on the foundation of your skills. The skills you must have honed for many years. Maybe you have worked in that industry for another company, and now you have finally decided to build your startup with your reliable connections.

But, when it comes to time to scale your business, you will need new clients and connections. When you want to boost more revenue, you will have to find more customers. Hence, like other businesses, solopreneurs too should keep learning new skills through business training programs.

For instance, if you are from a more technical background, you can learn more about digital marketing by taking online business courses. After gaining information about brands and services being online, your business can benefit from the exposure of having a website.

You can also learn about Search Engine Optimization (SEO) with which you can keep your website up-to-date, giving you the exposure your business needs to grow.

  1. Always be Prepared for Unforeseen Circumstances

Imagine you are a brilliant graphic designer, but suddenly your clients do not want your services anymore. What happens in that scenario?

The future is uncertain, and no matter your profession, unforeseen circumstances happen all the time. While you are working day and night on establishing your brand and growing your business, the last thing you need is to experience a financial blow due to decreased revenue. Hence, it is essential to understand how to break through such business challenges by taking business training programs.

Having financial safety is also important. Hence, set a schedule that is comfortable for you- weekly, monthly, or whenever you find it feasible to put aside a portion of your profits. Though it will take time, your goal to save a certain amount of money, by the end of the year will be fulfilled.

  1. Protecting your health too!

When we purchase a car or a shop, we tend to insure it. As a solopreneur, your most valuable asset is yourself. Your skills are the face and the foundation of your brand. So, if anything unexpected should happen to you, your business would likely suffer as well. Hence, as a solopreneur, you must get a cost-effective plan that will cover your requirement without having to pay for services you won`t use.  

Starting a startup from the scratch is not an easy task. Once started, it takes years of hard work to establish your business as a brand in the market. Hence, to stay ahead in the competition, every business owner needs to stay updated with new technologies and trends in the market.

If you are facing challenges in business, you can join our problem-solving course that will not only resolve management issues that crop up with teams; but also improve your vision to implement without depending on others.

You can also find tools meant for rising stars just like yourself – apps and services that let you manage many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

For more information, visit https://www.badabusiness.com/psc?ref_code=ArticlesLeads

Categories
Business motivation News

Amazon India Announces Small Business Days 2021 To Help Small Sellers To Bounce Back!

Amazon India Announces Small Business Days 2021 To Help Small Sellers To Bounce Back
Amazon India Announces Small Business Days 2021 To Help Small Sellers

In a bid to aid small sellers to bounce back from the financial losses that were induced by the pandemic second wave of COVID-19, Amazon India announced that the company host Amazon Small Business Days (SBD) that will begin from midnight on July 2, 2021, until 11:59 pm on July 4, 2021.

“As India tries to get back on track post the impact of the COVID-19 second wave, we are prioritizing our efforts to help small businesses bounce back from the economic disruption. Towards this, we are hosting Amazon Small Business Days, to help generate customer demand for offerings from small sellers on the Amazon India marketplace thus helping them to get their business back on track,” said Pranav Bhasin, Director, MSME & Selling Partner Experience, Amazon India.

During the three-day sale event, customers will have the opportunity to discover and purchase as well as enjoy deals and offer on products across categories including monsoon essentials, immunity boosters, regional handicrafts, at-home fitness supplies, etc. among many more from the special themed stores on the marketplace.

Whether customers are looking to purchase Work from Home essentials, comfort food or heritage handloom weaves straight from regional weavers, Small Business Days will have the widest selection on offer for everyone. Customers can save more with a cashback offer of up to 10% powered by A-pay and on other forms of digital payments for purchases made from participating small businesses.

Nitin Gadkari, Union Minister of Road Transport and Highways; Micro, Small and Medium Enterprises, Government of India, said, “MSMEs are the backbone of our economy, contributing to nearly 30% of the country’s GDP and half of its exports. Around 6 crore MSME units across the country employ over 11 crore persons.”

“MSMEs contribute significantly to the socio-economic growth of the country by fostering entrepreneurship and generating large employment opportunities. I believe that technology will play a key role in the success of MSMEs, and in increasing the contribution of MSMEs’ share to the country’s GDP. It is important to accelerate the growth of MSMEs especially after the disruptions caused by COVID-19 and I congratulate Amazon for hosting Small Business Day to help generate customer demand for their products and revive livelihoods of lakhs of MSMEs in the country”, he added.

“Customers will be able to discover thousands of unique products from local shops, women entrepreneurs, start-ups, emerging brands, artisans, and weavers, at a great value, making their shopping experience enjoyable,” added Pranav Bhasin.

Small Business Days 2021 is a sale event part of Amazon India’s efforts to minimize the impact of the COVID-19 pandemic on sellers. Over the past few months, with the onset of the second wave of the pandemic in India, Amazon has taken a host of measures to help sellers including a variety of fee waivers, relaxation of policies on reimbursements and performance metrics, and more.

Amazon is also providing vaccination support to its sellers and their dependents. In addition, Amazon has also enabled an ‘on-demand disbursement’ feature that enables sellers to get their disbursements daily to help sellers navigate the economic challenges during these challenging times.

Categories
Business Courses

5 Reasons Why Entrepreneurs Must Pursue Online Business Courses!

5 Reasons Why Entrepreneurs Must Pursue Online Business Courses!
5 Reasons Why Entrepreneurs Must Pursue Online Business Courses!

Stay hungry, Stay Foolish- these were the golden words from Steve Jobs that pretty much elaborate why every aspiring, upcoming, struggling or successful entrepreneur needs to keep learning.

Most often people believe that once they have acquired success or have hit their major goal, they do not have to explore the world of knowledge, any further. Ask any successful millionaire or billionaire and they will all tell you the same thing- keep learning.

If you want to be a rock star of the business world, you will have to stay updated as there are loads of entrepreneurship courses that are perfect to enhance your leadership skills. Reaching a milestone once is not enough. That is just the beginning of where the hard work has just begun. And, there is so much more to learn.

According to research on ultra-successful business, people read around 60 books every year. That is more than one book, per week. If you do not like reading fiction, you can go for non-fiction books or online business courses for entrepreneurs.

A lot of times even the students who are passed out of A-listed management institutions are not updated with the latest trend and technology in the market. This is why continuous learning is a must for every entrepreneur as it will form a critical part of your success in professional as well as personal life.

  1. Online Business Courses offer Choices

Education on the internet has transformed completely, and mostly for the better. The education that one receives online is nothing like the university or a college class where a professor comes to deliver a long and boring lecture on a subject you have no plans to pursue soon.

Things have changed big time! Today, an online course is similar to a real-life learning experience. Sometimes, it is better than the latter because it gives ample opportunities to entrepreneurs to excel in various fields of business. Where university education just helps you to get a degree, online courses prepare you for the real world.

  1. Less Expensive

A commitment to lifelong learning should be on every entrepreneur`s mind. However, it going back to the university to gain in-depth knowledge about various aspects of business is neither available nor feasible.

So whether it’s a regular entrepreneurship course or problem-solving courses for a particular business challenge, an online business course can be your best bet as it is very affordable. For a fraction of the cost, you can receive university-level learning lessons and experience straight from an industry expert. All you have to figure out what kind of course and in which subject you would like to pursue your education.

  1. Result Oriented

We know giving your money away to someone whom you have never met can be intimidating for some. However, very few people understand that this is the major reason behind the motivation of online educators. Why? Their reputation is at stake, and that is the reason why they help you to get the results you desire instead of just teaching dry theory.

  1. Flexibility to attend from anywhere, anytime

As far as traditional methods of learning are concerned, every student used to get evaluated based on 45-minute lectures per week. But, with online business courses for entrepreneurs, one can access the lecture and classes anywhere, anytime. Whether you are traveling in the metro for work or feeling curious to learn something new about a business crisis you have been experiencing, online lectures make learning smooth and hassle-free.

  1. You can Keep the Course

Perhaps, this is the best part about attending an entrepreneurship course that instead of purchasing heft-priced textbooks and making tons of notes, many online courses let you keep a lot of course material.

Not only that, but you are also provided with worksheets to track your progress, discussion forums, and interactive presentation at your fingertips.

Learning should never stop! Keeping your knowledge reservoir always updated and upgraded will help you to stay ahead of competitors. So if you have not considered taking an online business course, you should not delay it any further.

Do your research, and find the best business coach in India that has solid credentials and trustworthy testimonials. Do not just sign up for any courses, as there are many swindlers out there. You can also take our Problem Solving Courses if you are looking for a breakthrough into your startup.

Categories
E-Commerce News

The Central Government Proposes Stricter E-commerce Norms To Tackle Unfair Trade Practices!

The Central Government Proposes Stricter E-commerce Norms To Tackle Unfair Trade Practices
Government Proposes Stricter E-commerce Norms To Tackle Unfair Trade Practices

Love flash sales on e-commerce platforms? Well, it will soon be history! The Central Government has decided to revise the Consumer Protection (E-commerce) Rules, 2020 in the country to prevent unfair trade practices in e-commerce.

The revised e-commerce regulation will come into effect from July 23, 2021, according to which no e-commerce platform will be allowed to display any promotion of misleading advertisements, whether in the course of business on its platform or otherwise.

The Government has taken this step after receiving several complaints from aggrieved consumers, traders, and associations against unfair trade practices and widespread cheating being observed in the e-commerce ecosystem.

The Ministry of Consumer Affairs, Food & Public Distribution stated that the frequent occurrence of such unfortunate incidents has affected the consumer and business sentiment in the market. It has caused immense distress and anguish to many people. It was observed that there was an evident lack of regulatory oversight in e-commerce which required some urgent action.

The fast-growing e-commerce platforms have also brought the unfair trade practices of the market in which the various e-commerce entities are engaged under the radar. These platforms manipulate the search results to promote certain products, sellers, preferential treatment to some sellers, indirectly operating the sellers on their platform, selling goods that are close to expiration, influencing the free choice of consumers, etc.

Though conventional flash sales by third-party sellers are not banned on the platform, certain e-commerce entities are encouraging limited consumer choice by indulging in “back to back” or “flash” sales.

To prevent the exploitation of consumers, protect their interests, and encourage free and fair competition in the market, the Central Government is proposing a revised Consumer Protection (E-commerce) Rules, 2020 with certain amendments.

Many e-commerce platforms like Amazon, Flipkart, and Myntra among others will have to appoint a Chief Compliance Officer, a Resident Grievance Officer, and a nodal contact person in India.

CAIT Secretary General Praveen Khandelwal termed the new draft as a “guiding stone to purify e-commerce landscape of the country which has been greatly vitiated by various e-commerce global companies to the extent that not only the domestic trade has been damaged but even the consumers are also feeling the heat of their unethical business practices”.

The proposed amendments aim to bring transparency in the e-commerce platforms and further strengthen the regulatory regime to curb the prevalent unfair trade practices.

Categories
Business motivation Small Business Consulting Firms

5 Simple Things That Will Make You The Best Business Management Consultant In India

5 Simple Things That Will Make You The Best Business Management Consultant In India
5 Simple Things That Will Make You The Best Business Management Consultant In India

You may have noticed that today the consulting industry is in bloom. There are so many big or small business consulting firms in India that are rapidly growing and making handsome profits.

Not only from the business perspective, but even science says that business management consultants add value to an organization. The World Bank conducted a formal study in which a control group of factories along with a treatment group was included.

The results were quantified and surprising!

The economic benefits for the first year exceeded the cost of the consulting- with later years` benefits like pure gravy.

So, what does it take to become a successful business coach in India when competition is high, and you have to compete with the best of the best? There are few essential qualities that top-class business coaches adopt to make a golden resume.

So whether you have just started a small business consulting firm or considering it as your career path, here are some of the vital characteristics that you must cultivate to go from being a good consultant to the best one:

  1. Become Reliable

A consultant`s worth depends on how much his clients can rely on his word. This essentially means that you will have to deliver exactly what you promised your clients. This may sound simple, but this is the most paramount thing that is needed to build trust and credibility among your existing and future potential clients. Make sure you keep your promises and be consistent in your quality.

  1. Develop an eye for minute details

One thing that can make you one of the best business management consultants in India is having attention to detail. This is such a crucial skill in consulting business as it ensures that your deliverables to your clients go error-free. It showcases how thorough your research and your recommendations are solid.

If you have this skill naturally, nothing can be better than that. However, if you are not then it is best to create a list of things to double-check before submitting or promising anything to your clients.

  1. Stay Ahead from the League

If you have just started your journey as a business coach, your first few years of consulting will keep you juggling between industries, clients, and areas. No matter how broader your experience is, it is a good idea to learn something new or develop a skill that will differentiate you from the rest of all your competitors.

From communication skills to advanced financial modeling, or gaining in-depth knowledge about a specific area in the industry, take out the time to discover in which field you can become a specialist.

  1. Learn to think Critically & Analytically

Every business management consultant has a charming personality with enough ambition to last a lifetime. But what distinguishes a good consultant from a great one is his or her ability to not only take care of the tasks at hand but also to think critically about the work.

For instance, your client might ask you to find cost savings in a supply chain. But, it is crucial to understand why it is necessary for the business? Are profits declining? Is your client lowering prices to compete with his competitors? Thinking critically will help you develop better insights and solutions for your client.

  1. Resolving crisis via Resourcefulness

Be it a large or a small business consulting firm, you will be asked to solve problems that may be completely new to you, or maybe altogether an alien concept event to the industry. However, a great consultant is prepared to face these tough problems or challenging demands through his resourcefulness.

Hence, developing an ability to quickly and creatively solve problems should be one of the main things to become the best business coach in India.

It takes a lot to succeed in the consulting business. But focus on the above-mentioned skills and you will yield great results. Also, always ask questions. However, ensure that you ask them in a helpful, least annoying way. You can also listen to some of the best motivational speakers in India to learn the nuances of consulting world.

Want to open a small consulting firm but have no clue how to build a business from the scratch? You can take our ‘Entrepreneurship Course’ that will help you gain in-depth knowledge about establishing your startup.

Categories
News

For Global Economy Industry, Governments And Civil Society Must Work As A Coalition: Mukesh Ambani

For Global Economy Industry, Governments And Civil Society Must Work As A Coalition: Mukesh Ambani
For Global Economy Industry, Governments And Civil Society Must Work As A Coalition

While addressing the Qatar Economic Forum, the Chairman of Reliance Industries Limited (RIL), Mukesh Ambani stated that for the global economy industry, governments, and civil society must work as a coalition.

He also spoke about the major challenges for the industry as the world trying to emerge from the COVID-19 pandemic.

Mukesh Ambani further added, “Well, I think that one of the challenges is to make sure that we get rid of the vaccination divide. The bulk of the developed world must be vaccinated by the end of the year. I think we in India have taken a lot many steps, and we expect that by the end of this year or by the first quarter of next year, we will do very well. We have to make sure that we
are in this all together”.

“The second challenge for all of us, particularly in the more developed countries, is to make sure that we bring back the economies, which have not had the benefit of stimulus, which have not had the benefit of government money, by really supporting the whole global economy to come back and grow,” Ambani said.

“We must be able to grow the whole world sustainably and not only bring back the developed economies. And towards that all of us — the industry, governments, and civil society — will have to work as a coalition, not only for our own company, not only for our own country but for the global economy,” Ambani added.

Upon asked how business has changed post the pandemic, he said “I think that trade along with purpose and compassion is the way forward. And that is going to get all of us, as humanity, together to integrate and make sure that collectively we can deal with global problems as one, and help each other moving forward. To my mind, this for the global economy is a fork in the road, and gives us an opportunity that together we can achieve a lot more.”

On digitalization, Ambani said that connectivity and communication have become necessities like food, clothing, and shelter, and fundamental rights of humankind.

“We never realized this as acutely as we did in the corona pandemic. Even in India, our Prime Minister had given a call for Digital India, and I was privileged, with our digital services company called Jio, to roll out a 4G network. We were lucky that we rolled out the network across the length and breadth of India by 2018. We have always wondered what we could have done without a 4G network across India in facing the corona crisis.

“So yes, the digital infrastructure was very useful in work from home, in vaccinating all our people, in making sure that our children learn at home and learn online. And I think that this trend of digital-physical will be the new normal and in the future, we will deliver most of our health and education services in a digital-physical sense,” Ambani said.

On sustainability in business, he said that as a society or as a business, it is imperative to adopt the sustainable business model. Embracing the model of clean energy is essential for growth, and to ensure that Reliance Industries have adopted the change whole-heartedly and is trying to transform each of our businesses to be sustainable, circular, recyclable, and fully transparent with the environment, social, and governance standards.

I think that is a prerequisite for every business to survive as we go forward. It will mean transforming our businesses and integrating them with the future”, he further added.