<span style="color: #222222;">Eminent economist, Arvind Panagariya has said that India must now think long-term to create better paying formal sector jobs by seizing the opportunity presented by multinationals possibly moving out of China to diversify their operations in the wake of the COVID-19 pandemic.<br />''<br />''Panagariya, Professor of Economics at Columbia University, emphasised that one thing the current crisis has revealed is the vulnerability of Indian workers to a shock that forces a near end of economic activity.<br />''<br />''Panagariya told news agency PTI, After 70 years of development effort, we have still left our workers predominantly employed on tiny farms and in informal or self-employment in tiny enterprises that give them bare subsistence level of income on a daily basis.</span><br />