Amid this pandemic situation where every country’s economy has been shaken. The world has been in threat since then. At the start of COVID19, the buzz topic of growth has come to a standstill as now the question is not of ‘the growth but the survival of the fittest” as every cloud has a silver lining so this to have not failed to create some opportunities for the business world. The need of the hour is to find a solution that can lead us back to our normalized life.
To exploit this opportunity to the fullest, the Serum Institute of India is trying to come up with the COVID19 vaccine which we can expect to see it in the open market by March – April once the vaccine is tested to be safe. The process is in its 3rd clinical trial phase. If it gets successfully approved SII will be the 1st Indian based company to launch the COVID vaccine. It would be very helpful especially for the people who are battling continuously with this epidemic. With this, there is a hike in demand for the vaccine by big companies, they are willing to purchase them in bulk to make it available to their employees, as the cooperate sector is immensely affected by COVID, companies are not able to function properly, people are working from home this has reduced their range and decline in the profit margin. The vaccine will help in proper functioning, will help to provide a safe working environment for the employees this will increase the sales as people will get a safety check.
Making vaccine available to the Private sector has been a bone of content as Government will be focusing more on catering to the needs of priority sectors, after that individuals and
companies can get their hands on the vaccine as per the parameters laid by the government regarding the type of companies that can procure vaccine and to them, they can distribute them. In the current scenario, SII has stated they will boost their production to 400 million from 100 million in the upcoming year, still, it is not sufficient to cope with the increasing spread of COVID cases. I believe that SII needs to tie up with technology effective companies to increase production on large scale. This will not only help us in winning the battle against the deadly virus but will also help us to uplift our economic condition, which was lost somewhere during this crisis.
Krati Agarwal
Jaipuria Talks Blog 