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ICCC June 2020 Newsletter

11 Jun 2020 7:00 PM | Anonymous

President's Message

Pramod Goyal

How may we help you?

Slowly, inexorably, we are on road to reopening the economy. The process of lifting the lockdown has commenced globally as the curve of the Covid-19 pandemic appears to have flattened in most parts of the world barring a few exceptions. But this is not a time for euphoric celebrations.

On the contrary, it would help everyone if we don’t lose sight of the fact that the antidote to the virus is nowhere in sight. It is estimated that a vaccine of some sort may take at least 18 months, if not more. The federal and provincial governments are aware of this, and the easing of the lockdown is only because the feared overwhelming of the healthcare system has been averted in most parts of Canada.

The lockdown of the economy was involuntary and a sledgehammer blow to many small businesses that led to irreversible changes in their fortunes. The reopening may not be as smooth as most small businesses may wish. This is because the new norms of physical distancing will entail substantial costs that many small businesses would not be able to afford.

Our Chamber, which is the representative of Indo-Canadian small businesses, appeals to the federal and provincial governments to support small businesses in reopening. City administrations should be distributing free personal protection equipment, masks, gloves, and other preventive paraphernalia to small business owners, especially those in the retail sector and those who have a direct interface with customers.

Read full message: How may we help you?

In the News

ICCC Joins Canada Business Resilience Network

Indo-Canada Chamber of Commerce (ICCC) has joined Canadian Chamber of Commerce's Canadian Business Resilience Network (CBRN). The Canadian Chamber established CBRN to bring together a vast network of over 450 chambers of commerce and boards of trade, as well as over 100 business and industry associations – including the Business Council of Canada, Canadian Federation of Independent Business, Retail Council of Canada, and Canadian Manufacturers and Exporters – to help the business community prepare, persevere and prosper as we collectively face the COVID-19 pandemic.

While welcoming ICCC to the CBRN, the Canadian Chamber said, “We are excited to welcome the Indo-Canada Chamber of Commerce to Canadian Business Resilience Network. Founded in 1977, the Indo-Canada Chamber of Commerce (ICCC) is a non-profit, non-partisan organization that works to foster individual initiative and to promote the business, professional and general well-being of Indo-Canadians.”

Small Business Relief Fund

Apply before 12 June 2020 8:00 PM ET

As part of its Canadian Business Resilience Network campaign, the Canadian Chamber of Commerce, through the generosity of Salesforce, will provide 62 small Canadian businesses from coast to coast to coast with $10,000 grants to help their recovery efforts during these unprecedented times.

Businesses can use the $10,000 grants to support their recovery efforts, including paying salaries, acquiring safety and personal protective equipment for staff, replenishing materials or paying for the measures required to adapt business models to the economic impacts of COVID-19.

Small business owners put everything they have into their businesses, and these grants will help give a little bit back.

For eligibility criteria and how to apply, click here: Small Business

Covid-19: Indian Initiatives

Atmanirbhar Bharat Abhiyan

The Government of India (GoI) has taken many initiatives to deal with the health and economic impact of the COVID-19 pandemic. India’s Prime Minister Narendra Modi, in his address to the nation, has highlighted the importance of turning the crisis into an opportunity and reaffirmed his government’s commitment to build a self-reliant India.

Since then, Finance Minister has announced a number of measures that have focused on incentivizing business and investment focused growth, enabling investment and trade reforms, and opening up India as an investment destination in minerals, defense, space, atomic energy, civil aviation, coal and agriculture sectors.

Many initiatives have also been announced on boosting private sector investments, MSMEs, enhancing ease of doing business, a new public sector enterprise policy, relief measures of RBI to enhance liquidity and ease credit and working capital costs of various sectors and incentivize state level reforms.

Here are two presentations “Atmanirbhar India - COVID-19 : Turning crisis into opportunity” & Atmanirbhar India – Sabka Saath, Sabka Vikas – COVID-19 Government of India support to all stakeholders. The first is aimed at informing the businesses and industry about the highlights of the initiatives, and the second highlights GoI package announced for the poor, support for rural economy, workers, and farmers.

Download presentations: Atmanirbhar Bharat

Analysing Covid-19 & the IT

Vijay Thomas, Vice President, ICCC & CEO Tangentia Inc, made a splash in the media in Goa, featuring in television and print interviews, discussing the impact of Covid-19 pandemic on the economy and the IT sector

Click on the images below to watch & read


Programs & Events

Thursday Talks - 10

Covid-19 & Sports & Entertainment

Register now: TT-10

Watch live stream: www.facebook.com/ICCCONLINE

Thriving in the new normal: BDC's free webinar

The Business Development Bank of Canada (BDC) is organizing a free live webinar for entrepreneurs on June 15, on how to adapt your business to thrive in the new normal.

During this webinar, BDC's experts will present a step-by-step approach to manage risks, create contingency plans and equip your business with a strategic vision that takes into account the changed landscape.

The Canadian Chamber of Commerce will also share insights into its survey on Canadian business conditions as a result of the pandemic.

When: June 15 ― 12:00 pm (EDT)

Cost: Free

Register now

Webinar topics:

How economic conditions have changed for Canadian businesses

How to develop a clear strategic direction for your business

Tools to evaluate your current strategic situation and develop a way forward

Stories of entrepreneurs who have successfully transformed their companies

The health and well-being of Canada’s entrepreneurs is BDC's top priority. To learn how they can support you through this challenge, visit bdc.ca/coronavirus

Insight

World Bank Global Economic Prospects

Covid-19 to plunge world economy into worst recession since WWII

5.2% shrinkage of global economy in 2020 will represent the deepest recession since the Second World War, with the largest fraction of economies experiencing declines in per capita output since 1870

Read more: Insight


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