India’s Management of COVID-19 Pandemic: World Bank Insights
The World Bank recently released a report titled “India Covid-19 procurement: challenges, innovations, and lessons,” which acknowledges India’s successful measures in managing the COVID-19 pandemic. The report analyses efforts by the government of India to maintain the supply of essential medical goods during the initial stage of the pandemic.
Findings: Global and Indian Perspectives
According to the report, most countries’ health systems, including those rated high on the Global Health Security Index, faced unique challenges while responding to the pandemic. Several countries innovated in public procurement to adjust to these market uncertainties.
On the Indian front, notable initiatives included efficient distribution of medical supplies nationwide, early imposition of restrictions, and formation of inter-ministerial groups for quick procurement decisions. Impressively, India increased its testing laboratories from 18 to over 2,500 within just four months, preparing itself for future health crises that could disrupt global supply chains.
Supporting the Growth of Indigenous Medical Devices Industry
Before the pandemic, India largely depended on imported ventilators. However, when COVID-19 struck, 25 manufacturers, including several new ones, stepped up to manufacture ventilators despite limited financial and infrastructure capacity. The government enlisted the help of several automobile and electrical manufacturing companies to support these new entrepreneurs.
Innovative Measures in India
The report highlighted key innovative actions taken by India. These included adopting a whole-of-government approach to stimulate local production, reducing unit prices, and decreasing reliance on global supplies. India also introduced an accelerated tendering process and quality assurance protocols, along with an efficient supply chain management backed by computerized modeling. This helped project the number of cases and admissions, including oxygen and intensive care unit requirements among states based on epidemiological trends. Additionally, the government moved the quality-assured COVID commodities to the e-procurement site promptly, allowing states to access these products at competitive prices without a tendering process.
About The World Bank
Created in 1944 as the International Bank for Reconstruction and Development (IBRD), the World Bank is a unique global association of five institutions that aim to alleviate poverty and promote shared prosperity in developing nations. India is among its 189 member countries. The World Bank Group includes the IBRD, International Development Association (IDA), International Finance Corporation (IFC), Multilateral Guarantee Agency (MIGA), and International Centre for the Settlement of Investment Disputes (ICSID). It regularly releases significant reports including Human Capital Index and World Development Report.
Global Economic Prospects: World Bank’s Flagship Publication
The World Bank’s semi-annual flagship publication, “The Global Economic Prospects (GEP),” offers insights into the state of the world’s economy. In addition to the GEP, the World Bank also publishes other important reports such as Ease of Doing Business and World Development Report.
The Significance of Bretton Woods Institutions
Referred to collectively as the Bretton Woods Institutions, the World Bank and the International Monetary Fund are two international entities supporting the global economic and financial order. Despite exhibiting several common characteristics, their roles, functions, and mandates are distinctly different.
