Post COVID-19 new economy will bring equilibrium

By: Kiran Mazumdar-Shaw, Biocon 

In an exclusive video chat, with Shradha Sharma, Founder and Chief Editor of YourStory.com, Biocon CMD Kiran Mazumdar-Shaw talks about what founders can do to build for lasting value in the times of coronavirus.

When asked in the interview on her advice to startups and small businesses that are getting badly affected following the lockdown, she said “I’ve always told entrepreneurs, you must have a purpose in what you are pursuing and if yours is something that is meaningful, something you value, something that will make an impact, I think you will succeed.”

“Don’t do it for money, because money will follow. Do it because it makes a difference,” she added.

Watch the full interview here:

“We need to have faith in our own capabilities. We keep looking outside for answers when we have those indigenously and locally available. So we must start building that confidence, that self sufficiency.”

“And I think we need to build a new economy. This new economy is going to be a very different economy in the world. You can see that virtual economies are being tested today. They were overvalued, and as a result, real businesses were undervalued. Now is the time to build that equilibrium. And this is, I think, the time for building that equilibrium in our lives, in our businesses, in the economy.”