Jun 14, 2021 - Amway plans to invest Rs 170 cr over 2-3 years in India

From the Editor's Desk

Luxury and Hunger: Two Faces of an Unequal Pandemic

Mercedes-Benz AG recently introduced its Maybach sport utility vehicle in India - right in the middle of a fierce second wave of the pandemic. The 50 cars the German automaker wanted to sell by the end of 2021 were lapped up in a month. It turns out that just as the rich were scrambling to own these $400,000 wheels, annual per capita income was sliding below $2,000, with the country falling behind neighbouring Bangladesh.

Colleagues at Bloomberg News recently chronicled a story that's becoming all too familiar: Shoemaker Shyambabu Nigam had to sell his modest house to pay the $8,230 medical bill from his wife's Covid-19 complications. One of his three leather-sewing machines is also gone. The debt-strapped couple is renting a room in a nearby village. Well-meaning initiatives, such as a government-backed emergency credit line that has been available to small businesses since last May, can’t reach highly informal micro units like Nigam's.

Continued here

TradeBriefs: Newsletters for Decision-Makers!

Advertisers of the day

Emeritus: PG Diploma in Innovation & Design Thinking online program | Accepting applications - Starts on June 30, 2021

Emeritus: PG Diploma in Digital Business by Emeritus | Accepting Applications - Starts on June 30, 2021

Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.

Want the newsletters, without the promotional mailers?
Get an (ad-free) subscription to TradeBriefs Premium for just $2 per month.