Pandemic pushes back world economy by 5-10 years, says Bata Global CEO

08:35 PM Jul 17, 2021 | PTI

The COVID-19 pandemic is probably the "most significant" world event of our lifetime and has unarguably pushed back the world economy and people by 5-10 years, said Bata Corporation Global CEO Sandeep Kataria.

Though the pandemic has impacted almost everything over the last 15 months, he expressed hope of leaving medical worries behind soon given the "innovativeness and ingenuity" shown by the human race during this period.


While delivering the convocation address at XLRI virtually, Kataria said there would also be an inevitable rise of the new order, a new normal.


Kataria was conferred the prestigious ‘Sir Jehangir Ghandy Medal for Social and Industrial Peace’ this year by XLRI. "When I look at the future with optimism - I am referring to the inevitable rise of the new order, a new normal – an opportunity to recast many of the notions that we have taken for granted over the last 50 years and provide an opportunity like never before," he said.

Combined with the continuing changes in the geopolitical map of the world and tech disruptions, global warming and markets that have been gathering pace over the last decade, significant changes would be seen in the workplace, Kataria added.

"India with its demography, stable democracy and the famed Indian resilience and jugaad puts it and all Indians in a great position to gain from these changes," he said.

Addressing the graduating students, Kataria said they are graduating at an "amazing moment" in time for the global economy and especially India.

Kataria also suggested critical abilities, which will be needed to thrive in the next 30 years and said, "We will need more leaders and less managers”.

He suggested the students to have "curiosity and the ability to learn and relearn" and stretch targets and said, "Be a Javelin Thrower not an Archer."

The virtual convocation ceremony was held to bid a final farewell to the 2019-21 batch.

Kataria was the chief guest of 65th Annual Convocation of XLRI. Besides, Tata Steel India and South East Asia MD and Chairman, Board of Governors at XLRI T V Narendran was also present along with Fr. Paul Fernandes S J, Director of XLRI.

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