Wednesday, January 27, 2021
  • Home
  • Education
  • Lifestyle
  • Entertainment
  • NewsMania
  • Automobiles
  • Guest Blog
All Best Blog: Top Health & Food Blogs are just a read away!
  • Home
  • Education
    Are Board Exams Really Different From Your School Exams?

    Are Board Exams Really Different From Your School Exams?

    Tips And Tricks To Become A+ Student

    Tips And Tricks To Become A+ Student

    Trending Tags

    • Lifestyle
      • All
      • Food
      • Health
      • Travel
      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

      You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

      Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!

      Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!

      Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!

      Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!

      Home Remedies for Piles

      Home Remedies for Piles

      Kitchen Appliances: Add Fun and Comfort to Your Household Chores

      Kitchen Appliances: Add Fun and Comfort to Your Household Chores

      How Is Indian Economy Affected Due To Coronavirus And Lockdown?

      How Is Indian Economy Affected Due To Coronavirus And Lockdown?

      The First Human Experiment Of Potential Coronavirus Antibody Treatment Begins: Topmost Updates On Covid-19 Vaccine

      The First Human Experiment Of Potential Coronavirus Antibody Treatment Begins: Topmost Updates On Covid-19 Vaccine

      Arvind Kejriwal May Undergo Covid-19 Test Tomorrow: He Self-Quarantined Himself

      Arvind Kejriwal May Undergo Covid-19 Test Tomorrow: He Self-Quarantined Himself

    • Entertainment
    • NewsMania
    • Automobiles
    • Guest Blog
    No Result
    View All Result
    All Best Blog: Top Health & Food Blogs are just a read away!
    • Home
    • Education
      Are Board Exams Really Different From Your School Exams?

      Are Board Exams Really Different From Your School Exams?

      Tips And Tricks To Become A+ Student

      Tips And Tricks To Become A+ Student

      Trending Tags

      • Lifestyle
        • All
        • Food
        • Health
        • Travel
        The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

        The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

        You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

        You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

        Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!

        Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!

        Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!

        Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!

        Home Remedies for Piles

        Home Remedies for Piles

        Kitchen Appliances: Add Fun and Comfort to Your Household Chores

        Kitchen Appliances: Add Fun and Comfort to Your Household Chores

        How Is Indian Economy Affected Due To Coronavirus And Lockdown?

        How Is Indian Economy Affected Due To Coronavirus And Lockdown?

        The First Human Experiment Of Potential Coronavirus Antibody Treatment Begins: Topmost Updates On Covid-19 Vaccine

        The First Human Experiment Of Potential Coronavirus Antibody Treatment Begins: Topmost Updates On Covid-19 Vaccine

        Arvind Kejriwal May Undergo Covid-19 Test Tomorrow: He Self-Quarantined Himself

        Arvind Kejriwal May Undergo Covid-19 Test Tomorrow: He Self-Quarantined Himself

      • Entertainment
      • NewsMania
      • Automobiles
      • Guest Blog
      No Result
      View All Result
      All Best Blog: Top Health & Food Blogs are just a read away!
      No Result
      View All Result
      Home Automobiles

      How Is Indian Economy Affected Due To Coronavirus And Lockdown?

      Akansha Kaushik by Akansha Kaushik
      June 10, 2020
      in Automobiles, Business, Electronics, Entertainment, NewsMania, Travel, World
      0
      How Is Indian Economy Affected Due To Coronavirus And Lockdown?
      594
      SHARES
      3.3k
      VIEWS
      Share on FacebookShare on Twitter

      Coronavirus outbreak was first recorded in Wuhan, China, on 31 December 2019. Let’s learn about its impact on Indian economy.

      Coronavirus (CoV) is a big family of viruses that causes illness. It varies from the common cold to more severe diseases like Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). The novel coronavirus is a new strain of the virus that has not been identified in humans so far.

      You might also like

      Unlock 4.0 Starting from 1st September: What is Open and Shut in Delhi?

      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

      WHO is managing closely with global authorities, governments, and other health organisations to provide advice to the countries about precautionary and preventive measures.

      Impact of Coronavirus on the Indian Economy

      To fight with COVID-19, the Indian Government extended the date of lockdown to 30th June 2020.

      Lately, an industry study that is collectively conducted by industry body Ficci and tax consultancy Dhruva advisors and took replies from about 380 companies beyond the sectors. It is said that companies are engaging with “tremendous uncertainty” about their future.

      As per the survey, COVID-19 is having a ‘deep impact’ on Indian companies, over the following month’s jobs are at great risk because companies are looking for some decrease in workforce. Moreover, it is added that already COVID-19 crisis has created an unprecedented failure in economic pursuits over the last few weeks.

      The existing situation is having a “high to very high” level impact on their business as per almost 72 percent of respondents. Besides, 70 percent of the surveyed companies are awaiting a degrowth sales in the fiscal year 2020-21.

      Ficci said in a statement, “The survey highlights that unless a substantive economic package is declared by the government immediately, we could see a lasting impairment of a large section of the industry, which may lose the opportunity to come back to life again.”

      Let us have a peek at the sector-wise impact on Indian industry:

      Chemical Industry: Several chemical plants have been closed down in China. So there will be limitations on shipments/logistics. It was discovered that 20% of the manufacturing had been affected due to the disorder in raw material supply. China is a notable supplier of Indigo that is needed for denim. Business in India is likely to get stirred, so people guarding their supplies. Though it is an opportunity, the US and EU will risk and expand their markets. Some of the businesses can be turned to India, which can also be taken as a benefit.

      Shipping Industry: Coronavirus outbreak has affected the business of cargo movement service providers. As per the references, per day per vessel has dropped by more than 75-80% in dry bulk trade.

      Auto Industry: Its influence on Indian companies will vary and depend upon the size of the business with China. China’s business, no doubt, is affected. Yet, current levels of the inventory seem to be enough for the Indian industry. If the closedown in China remains, then it is assumed to result in an 8-10% contraction of Indian auto manufacturing in 2020.

      Pharmaceuticals Industry: Being one of the top formulations of drug exporters in the world, the pharma industry of India depends massively on import as of bulk drugs. Because of the coronavirus outbreak, it will also be affected.

      Textiles Industry: Due to coronavirus outbreak, many garments/textile mills in China have suspended operations that, in turn, influencing the exportation of fabric, yarn, and additional raw materials from India.

      Solar Power Sector: Indian developers may encounter unusual shortfall of raw materials required in solar panels/cells and limited stocks from China.

      Ficci’s study revealed 53% of Indian businesses had indicated a marked impact of COVID-19 on business transactions. And 42% of the respondents stated that up to three months could take for normalcy to return.

      Electronics Industry: The biggest supplier is China in electronics being a final product or raw material applied in the electronic industry. India’s electronic industry may suffer supply disturbances, production, reducing the impact on production costs due to massive dependency on electronics element supply directly or indirectly, and local production.

      IT Industry: The New Year leaves in China has been prolonged due to coronavirus outbreak that negatively affected the revenue and development of Indian IT companies.

      Tourism and Aviation: Due to the coronavirus outbreak, the inflow of tourists from China and from other East Asian territories to India will drop, which will affect the tourism sector and revenue.

      An outbreak of COVID-19 affected the whole world and has been felt across businesses. The outbreak is certified as a national emergency by the World Health Organisation. In India, the three primary contributors to GDP, namely private consumption, investment, and external trade, will all get affected. The world and Indian economy is attempting to lessen the health risks of COVID-19 with the economic risks and necessary measures needed will be taken to improve it.

      For more updates, stay in touch with us. You may also subscribe to our Newsletter for latest posts.

      Previous Post

      The First Human Experiment Of Potential Coronavirus Antibody Treatment Begins: Topmost Updates On Covid-19 Vaccine

      Next Post

      7 Best Romantic Korean Dramas/TV Shows To Watch Right Now

      Akansha Kaushik

      Akansha Kaushik

      Related Posts

      Unlock 4.0 Starting from 1st September: What is Open and Shut in Delhi?
      NewsMania

      Unlock 4.0 Starting from 1st September: What is Open and Shut in Delhi?

      by Akansha Kaushik
      August 31, 2020
      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here
      Entertainment

      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      by Akansha Kaushik
      August 31, 2020
      You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K
      Automobiles

      You Don’t Need a License to Ride– Gurgaon Firm Sells Electric Bikes Only at 20K

      by Akansha Kaushik
      August 31, 2020
      Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!
      Lifestyle

      Fan of Boating? Uttrakhand’s Naini Lake Calls for You as Boating Resumes from September 1!

      by Akansha Kaushik
      August 29, 2020
      Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!
      Lifestyle

      Want to Experience “Glow in the Dark?” Do Not Miss On These Travel Destinations in India!

      by Akansha Kaushik
      August 29, 2020
      Next Post
      7 Best Romantic Korean Dramas/TV Shows To Watch Right Now

      7 Best Romantic Korean Dramas/TV Shows To Watch Right Now

      Leave a Reply Cancel reply

      Your email address will not be published. Required fields are marked *

      Categories

      • Automobiles
      • Business
      • Education
      • Electronics
      • Entertainment
      • Food
      • Guest Blog
      • Health
      • Kitchen
      • Lifestyle
      • NewsMania
      • Sports
      • Travel
      • Uncategorized
      • World

      Top Categories

      • Automobiles
      • Business
      • Education
      • Electronics
      • Entertainment
      • Food
      • Guest Blog
      • Health
      • Kitchen
      • Lifestyle
      • NewsMania
      • Sports
      • Travel
      • Uncategorized
      • World

      Recent Comments

      • Uganda on Top 7 Health Benefits Of Whiskey
      • Avdotya on 5 Best Netflix Series To Watch Right Now
      • Ira on Kitchen Appliances: Add Fun and Comfort to Your Household Chores
      • LeoFH on 5 Best Petrol Cars Under 8 Lac In India
      • Anirudha Thakur on Anime: The World of Infinite Possibilities

      Recent News

      Unlock 4.0 Starting from 1st September: What is Open and Shut in Delhi?

      Unlock 4.0 Starting from 1st September: What is Open and Shut in Delhi?

      August 31, 2020
      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      The SPOOKY TALES OF BHULI BHATIYARI PALACE: People Are Not Permitted After Sunset Here

      August 31, 2020

      Popular

      • Hyundai Grand i10 Nios launch In India: Best Car Under 8 Lac?

        Hyundai Grand i10 Nios launch In India: Best Car Under 8 Lac?

        625 shares
        Share 250 Tweet 156
      • Are Board Exams Really Different From Your School Exams?

        611 shares
        Share 244 Tweet 153

      © 2019 All Best Blog | All Rights Reserved

      No Result
      View All Result
      • Home
      • Education
      • Lifestyle
      • Entertainment
      • NewsMania
      • Automobiles
      • Guest Blog

      © 2019 All Best Blog | All Rights Reserved