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Impact on Covid-19 and Revival of different Industries in India Post Covid-19


Affiliations
1 Pedagogical Research Associate (PRA), Indian Institute of Management, Bangalore, India
 

The World Health Organization (WHO) has declared Novel Coronavirus or Covid-19 as a pandemic that is spread across the globe. The global economy has witnessed huge unprecedented changes. The Coronavirus has not just achieved the highest death toll as observed but it has caused severe destruction in way of earning livelihood by humankind. The virus has negatively impacted various sectors and industries in Indian Economy. It brought down GDP growth rate of India from 6.1% in the year 2019 to – 3.2% to in the year 2020. This research paper attempts to understand the level of destruction on various industries of Indian Economy and give reasons which help the Government of India and Indian citizens to revive these industries post Covid-19. This requires concentration on business strategies to revive, survive and growth of these industries. This will show us how resilient the business is in the Indian Economy.

Keywords

Indian Economy, Industries, Impact, Revival, Survival.
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  • Research publications

  • Debdas Rakshit & Ananya Paul (2020), “Impact of Covid-19 on Sectors of Indian Economy and Business Survival Strategies”, International Journal of Engineering and Management Research, Vol 10, Issue 3, pp: 51 – 55.

  • Digamram Kulkarni (2020), “Impact of Covid19 on MSMEs”, Vol 11, Issue 4, pp 120 – 123.

  • Dun & Bradstreet (2020)., “Impact of Covid-19 on Sectors in India”, , pp: 1 – 2.

  • Fabio Carbone (2020), Tourism Destination Management Post COVID-19 Pandemic: A New Humanism For A Human – Centered Tourism (Tourism 5.0), World Tourism, Health Crisis and Future: Sharing Perspectives, pp: 43 – 54.

  • KPMG (2020). Potential Impact of Covid-19 on the Indian Economy”, pp: 1 – 65.

  • S. Mahendra Dev & Rajeswari Sengupta (2020). Covid-19: Impact on the Indian Economy”, Indira Gandhi Institute of Development Research, pp: 1 – 41.

  • Sunil Kumar (2020). Impact of coronavirus (Covid-19) on Indian Economy”, ResearchGate, Vol 2, Issue 4, pp: 301 – 302.

  • UNDRR (2020). Business Resilience in the face of Covid-19", pp: 1 -9.

  • Newspapers Articles

  • 25 lakh new Kisan Credit Card holders sanctioned with loan limit of Rs 25,000 cr: Sitharaman, (2020, May 14), Retrieved from https://www.businesstoday.in

  • Centre, states to incur Rs 12k cr revenue loss in FY21 on lower coal, mineral consumption:Report,(2020,May22),Retrieved from https://www.economictimes.indiatimes.com

  • Coronavirus | Construction sector facing daily loss of Rs 30,000 crore; investments in projects to fall 13-30%: KPMG, (2020, May 8),

  • Retrieved from https://www.moneycontrol.com 4. COVID-19 management in hotels and other entities of the accommodation sector, (2020, August 25), WHO

  • Domestic aviation industry to crash-land this fiscal with Rs 24,000-25,000 crore revenue loss: Crisil, (2020, May 7), Retrieved from https://www.economictimes.indiatimes.com

  • Gurneel Kaur, Revenue Loss of MSMEs Estimated at More Than 12 Lakh Crore Since Lockdown, (2020, May 13), Retrieved from https://www.grainmart.com

  • Impact of the coronavirus pandemic might lead to a bleak FY 21 for hospitality and tourism industry: CARE Ratings, (2020, April 27), Retrieved from https://www.thehindubusinessline.com

  • India to ban Chinese companies from highway projects, says Gadkari, (2020, July 1), The Hindu. Retrieved from https://www.thehindu.com

  • India’s ban on 59 China-based applications, (2020, June 30), The Hindu. Retrieved from https://www.thehindu.com

  • India’s retail trade lost business worth Rs 9 lakh cr in last 60 days: CAIT, (2020, May 24), Retrieved from https://www.economictimes.indiatimes.com

  • Jayajit Dash, Covid-19 impact: Tourism industry to incur Rs 1.25 trn revenue loss in 2020, (2020, April 28), Retrieved from https://www.business-standard.com

  • Logistics sector to lose Rs 50,000 crore due to lockdown; relief package needed: Industry body ICC, (2020, April 16), Retrieved from https:/www.economictimes.indiatimes.com

  • Media, entertainment sector revenue could take 16 pc hit in FY21: Crisil, (2020, May 11), Retrieved from https://www.economictimes.indiatimes.com

  • Panji, Goa open to domestic tourists from July 2: Manohar Ajgaonkar, (2020, July 1), The Indian Express. Retrieved from https://www.indianexpress.com

  • Prachi Gupta, Raining jobs at Amazon, Grofers, Paytm; e-commerce hirings soar as online goes popular amid lockdown, (2020, June 29), Financial Express. Retrieved from https://www.financialexpress.com

  • Pranbihanga Borpuzari, Covid-19 relief: Government announces Rs 3-lakh crore collateral-free automatic loans for MSMEs, (2020, May 15), Retrieved from https://www.economictimes.indiatimes.com

  • Rituraj Tiwari, Crop loss compensation worth Rs 10K cr likely, (2020, April 1), Retrieved from https://www.economictimes.indiatimes.com

  • Roli Mahajan, World Bank and Government of India sign $750 million Agreement for Emergency Response Program for Micro, Small, and Medium Enterprises, (2020, July 6), Retrieved from https://www.worldbank.org


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  • Impact on Covid-19 and Revival of different Industries in India Post Covid-19

Abstract Views: 206  |  PDF Views: 137

Authors

Meena R.
Pedagogical Research Associate (PRA), Indian Institute of Management, Bangalore, India

Abstract


The World Health Organization (WHO) has declared Novel Coronavirus or Covid-19 as a pandemic that is spread across the globe. The global economy has witnessed huge unprecedented changes. The Coronavirus has not just achieved the highest death toll as observed but it has caused severe destruction in way of earning livelihood by humankind. The virus has negatively impacted various sectors and industries in Indian Economy. It brought down GDP growth rate of India from 6.1% in the year 2019 to – 3.2% to in the year 2020. This research paper attempts to understand the level of destruction on various industries of Indian Economy and give reasons which help the Government of India and Indian citizens to revive these industries post Covid-19. This requires concentration on business strategies to revive, survive and growth of these industries. This will show us how resilient the business is in the Indian Economy.

Keywords


Indian Economy, Industries, Impact, Revival, Survival.

References