India should be open-minded about another lockdown, says country's top banker
Uday Kotak's views reflect a change in sentiments among leading business houses
India’s wealthiest banker, Uday Kotak, implored authorities to consider curbing economic activity in a bid to counter the coronavirus crisis.
India is suffering the world’s worst COVID-19 outbreak, with a daily infection rate surpassing 300,000 and more than 2,000 deaths every day. India’s struggling to secure supplies from abroad after its hospitals became overwhelmed and oxygen supplies ran out in some parts of the country.
At this critical juncture when toll of lives is rising, CII urges the strongest national steps including curtailing economic activity to reduce suffering,
“At this critical juncture when toll of lives is rising, CII (Confederation of Indian Industry) urges the strongest national steps including curtailing economic activity to reduce suffering,” Kotak, president of CII and Chief Executive of Kotak Mahindra Bank Ltd, India’s third-largest lender by market value, said in a tweet.
Other CII suggestions included: “Our maxim should be ‘No one is safe, unless everyone is safe',” he said.