Being faced with disruptions in the production process precipitated by the natural disaster, firms with a minimum level of intermediate goods inventory were left with no choice but to sharply scale back their production.
At a time when Nehruvian socialist ideology dominated economic thinking, the development paradigm was shaped by the Feldman-Mahalanobis model and the public sector was at the commanding heights of the economy, Shroff had the courage of conviction to argue for an increased role for the private sector in a market economy.