How Can the COVID-19 Crises Be An Opportunity to Reset the Iron Foundries, with Special Reference to Howrah Foundry Cluster
An unforeseen crisis emerged all of a sudden due to the pandemic COVID-19. Such crisis arises may be once in a decade. Every industry had to shut down under compulsion. It was all to protect human life, the slogan - “Jaan hai toh Jahan hai”. Iron foundries in India was already experiencing a slowdown since 2017 due to decreased demand from automobile and other sectors. Due to declaration of Lockdown from 22nd March 2020, foundries halted production. But like other industries they neither retrenched labors nor sent them back home. Soon the country felt to unlockdown major industries which are the backbone to the country's economy, the slogan - “Jaan bhi aur Jahan bhi”. Iron Foundries started its operation gradually on and from 2nd of May and labours engaged for production to meet the existing orders. Yet till June most foundries are running hardly within the range of 20 to 25 percent capacity level. The dust gathered on the plants is an eye opener to the foundry owners and they should take this crisis as an opportunity to introspect, investigate and reset their policies, programmes, methods of operation, etc. This study makes a survey of the pre, amidst and post lockdown status of the foundries of India, focusing more on Howrah Foundry Cluster. It has tried to provide some feasible suggestions to transform or reset the operation of foundries, which would have been never thought of in normal situations or even in economic recessions. This will make it a V-Shaped recession curve than a L-Shaped one. Since it is a prospective paper providing suggestions to maneuver from the unique crisis and reset the industry, very few literatures were of real use. Innovative mitigating methods suggested are need of the hour. The suggestions open more avenues for future research works.