Jose Thomas Shares A Tale of Two Economies, India and USA
With the pandemic wreaking havoc in the global economy, many countries are trying to hold on with various economic measures. In this context, Chairman of Choice Group Mr Jose Thomas, running successful businesses in the US and India, shared his insights on how both the countries are tackling the issue.
He opined that the US, through various schemes, tried to ensure that its businesses are stable. Conversely, the Indian Government offered only moratorium. He said banks will start seeking repayment of loans sooner, though businesses are already in miserable condition. With the prospect of a vaccine arriving soon, Mr Thomas believes businesses will take a severe hit in the absence of relief measures.
"We are blessed with a good medical system. Our officials have been working exceptionally well. If we don’t protect the economy simultaneously, all the efforts our officials have been putting in will have no affect,” he says.
