And for a Friday, the already chaotic Global supply chain is further exacerbated by Omicron….. some thoughts….. some musings…..
Over the last two years of the Covid pandemic, the World economy and business sectors have all been turned Topsy Turvy. An unprecedented 7+% inflation in the US, rising crude prices, non-availability of Containers, over dependence on Chinese products, now with depleting supplies and rising prices and the emergence of new variant of Covid, Omicron, classified by WHO as a VOC (Variance of Concern) has created havoc in UK, South Africa and various parts of the world. In India, the situation is so far very much under control. Whilst there is no need to panic, we must remain cautious and prepared. It’s too early to know for sure the scope of damage of this variant. So for each one of us, “normal activities with Covid safety and protocol” is the only formula available. And for the Govt, full vigilance and preparedness for any Eventuality.
Every crisis also throws up opportunities. Global shortage of semiconductors has led to huge backlogs for new cars deliveries. Almost a million Indians have booked their new models of cars ranging from Maruti, Hyundai, Tatas and even Mercedes, have all to wait for few months to may be a year due to shortage of semiconductors. Used across automobiles, electronics, smart phones, white goods etc., Semiconductors are almost monopoly of a handful of manufacturers like TSMC-Taiwan, Intel, Samsung etc. These small chips not only do the powering but are the heart of the functional AI traits in almost every modern gadget. GOI has taken the plunge and announced today a 76000 crores incentives package to get Semiconductor manufacturing into the country. Its a huge step along with the already announced PLI scheme. This has the potential to spiral the growth of an entire new class of Electronic industries in India.
Mark Zuckerberg, founder of the world’s largest social media company – META, which controls FB, Instagram and WhatsApp – has said that India will have the largest App developer base in the world by 2024 due to the availability of the largest AR (Augmented Reality) development community. Local availability of chips will ensure its success. So let’s all support emerging technologies, the entrepreneurial way, the Ethical way, the SEEGOS way.