Publisher’s Note
Covid-19 scenario has thrown up completely different work challenges.
As per the International Monetary Fund (IMF), COVID-19 will result in a global recession worse than the global recession of 2008-2009. But there is light at the end of the tunnel: The IMF notes that recovery in global economic output could be as early as 2021. The Indian economy is still not well connected with the global economy as other large economies. Economic growth in the country is more reliant on domestic consumption than exports. Thus, reduced consumer spending in other economies will not have a significant impact on Indian economic growth. In addition, the reduction in crude oil prices will help reduce India’s oil import bill. This will give the government more fiscal room to help revive the economy.
A lockdown was announced to avoid the spread of pandemic and businesses & manufacturing operations were instructed to shut shop. This resulted in an unstructured stoppage of operations where little or no precautions could be taken. Similar situation is prevailing during the startup of the factories. These factory startups, without taking required precautions, have resulted in avoidable accidents which have killed and injured many in and around the locations where the factories operate.
Equipment stoppage for prolonged period and startup after a prolonged closure must be done with extra care where precautions need to be observed for safety of workmen and residents staying close to the manufacturing sites. Our publication is proud to share a startup guide which not only covers the safety precautions required to be taken due to the current pandemic, but also all lubrication related checks required (check page 31 for details).
India accounts for nearly 7% of global lubricant demand. While the overall lubricant demand growth in the country has slowed in the last couple of years, it remains one of the fastest-growing finished lubricant markets in the world.
In the post-COVID-19 economy, lubricant suppliers will have to continue monitoring the environment for business opportunities and challenges arising from such market trends as increased synthetic penetration, introduction of new regulations like Bharat Stage VI, extension of oil drain intervals, changes in automotive and industrial technologies, continued EV penetration, and changing consumer preferences.
The lockdown has taught us to evolve, upgrade, be resilient to change and overcome the challenges. The nation has showed remarkable solidarity and we shall pass through this together.
We would like to thank our readers for the great response to our previous edition’s cover story – “Oil Sampling and Filtering: How to Save Money and Reduce Your Carbon Footprint”.
Our current issue’s cover story is “COVID19: Lessons from Lockdown” which will help our readers to make the required changes in the work planning to make sure that we are always ready to face a situation like lockdown in the future also. You will find many more interesting & useful articles in this edition. As always, we welcome your feedback & suggestions.
Stay Safe & be healthy
Warm regards
Udey Dhir
