It was a momentous day for the students and faculty members of Amity University when His Excellency Marten van den Berg, Ambassador of Netherlands presented an online interactive talk under the Ambassador Lecture Series. His Excellency spoke on the topic Economic Impact of COVID 19 in relation to India and the Netherlands.
Dr. Atul Chauhan, Chancellor, Amity University, Prof. (Dr.) Gurinder Singh, Group Vice Chancellor Amity Universities alognwith Vice Presidents, Deans, Head of Institutions, Faculty Members were present in this online interactive lecture session.
Presenting his talk, His Excellency said that globalization is in retreat for the first time since World War-II. COVID 19 is impacting supply side, demand side and financial sector. COVID 19 crisis is striking the system and includes International Demand shocks, international & domestic supply chain disruptions, bankruptcies, postponed investments, bank crisis, layoffs, store closures etc. It is impacting every country and all sectors.
His Excellency said that world has seen many pandemics earlier also. Neither Cholera in 19th Century, Spanish Flu in 20th Century put brakes in the globalization, but this time picture is different. There is contraction in global economy wherein kind of recovery is still unclear. It is impacting all countries and all sectors. Speaking on Indian scenario, His Excellency said that India is already facing difficulties. India is moving towards zero growth, increase in unemployment, rise is poverty. According to Moody’s forecast for emerging economies real GDP growth of India is projected to 0.2% in 2020 and 6.2% in 2021. Government of India has already started many initiatives for protecting people with health, income and livelihood. Policies of protecting big & small firms and financial institutions is being implemented. He briefed about the opportunities for policies – fast track changes in public policies, accelerate globalization through e-commerce & digital trade, fast track sustainability & climate policies.
Speaking about India and Netherland relations, His Excellency said that The Netherlands has emerged as the third largest foreign direct investor in India during 2017-18, with investments pegged at about $2.67 billion across sectors. Netherlands is India’s top FDI destination. Due to this pandemic trade has reduced by 20-25 % and investment by 30% but many technological collaborations is going on with opportunities in health, water, renewable energy, agriculture, logistics, co-creation of online platforms.
Dr. Atul Chauhan, Chancellor, Amity University said that historically India and Netherlands enjoys very deep and cordial relations. From the very day of Independence, India and Netherlands are moving ahead in strengthening political, cultural and business relations with each other. Dr. Chauhan said that Amity has a school in Netherlands and added that Amity is the first school to re-open on the first day itself after the removal of lockdown from the Netherlands.
Prof. (Dr.) Gurinder Singh, Group Vice Chancellor Amity Universities said that it is a great opportunity for students to learn from the experience of His Excellency and to know deep India and Netherlands relation. Amity is also having deep relations with Netherlands with opening of the School.
