COVID-19 pandemic has created difficult conditions in almost all sectors of the global economy. It has changed many aspects of the economy and society, some perhaps permanently. Over the last 9 months the pandemic has overwhelmed the healthcare systems, wrecked economies and destroyed livelihoods, and the worst is not over yet. Huge uncertainties prevail over the duration of the pandemic and the resulting impact on economic activities.

As governments and policy makers across the globe struggle to limit the fall-out from the pandemic through the use of fiscal and monetary policy measures, economies are contracting by unprecedented levels. Indian economy, for instance, contracted by 23.9% during the first quarter of FY21. Unlike advance economies like the US and UK, emerging economies have less fiscal space at their disposal while facing an ongoing need to spend on relief and stimulus measures.

Albert Einstein famously said that “In the middle of difficulty lies opportunity.”Finding opportunities, however, in an environment of gloom and uncertainty is not only difficult but can also pose challenges in implementation. While some opportunities lie within national boundaries, others require a robust cooperation between countries. Given the sheer magnitude of the economic fallout due to the pandemic, it is not difficult to foresee a move towards economic isolation and trade wars. However, a cooperative behavior that results in debt write-downs, and multilateral loans to effected countries can not only limit the negative impact of the pandemic but can also help countries rebuild their economies.

Identification of opportunities is not obvious since the crisis is global and each country is differently affected by it. Policy makers in emerging economies will have to re-imagine economic relationships and look for opportunities. Where are the opportunities and what is the policy response required to exploit these opportunities?

Theme: Re-imagining Opportunities in the Shadow of Uncertainty: An Emerging Economy Perspective

The conclave will have a formal inauguration followed by discussions in two subsequent tracks. Interactive student workshops would be conducted in the second half of the day. Undergraduate and Post Graduate student contests shall be run before the conclaves.