In the wake of Covid-19, India figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts the world trade. Thus, in addition to grave threats to human life, the coronavirus outbreak carries serious risks for the global economy. As per the professor of the Faculty of Commerce and Business Administration at the Best Engineering College Near Uttarakhand, Amrapali Group of Institutes, the coronavirus pandemic has led to an economic recession that has no parallel in the recent past.
Apart from its worrying effects on human life, the novel strain of coronavirus has the potential to significantly slow down the global economy. The effect of this virus is likely to be seen long after the medical science offers a cure or at least a vaccine for Covid-19. As per the joint report from WHO and World Bank, the impact of pandemic is estimated at 2.2% to 4.8% of global GDP. As per Barclays, India’s aggressive lockdowns could bring the country’s growth down to 2.5% from the 4.5% it had earlier estimated.
Apart from its worrying effects on human life, the novel strain of coronavirus has the potential to significantly slow down the global economy. The effect of this virus is likely to be seen long after the medical science offers a cure or at least a vaccine for Covid-19. As per the joint report from WHO and World Bank, the impact of pandemic is estimated at 2.2% to 4.8% of global GDP. As per Barclays, India’s aggressive lockdowns could bring the country’s growth down to 2.5% from the 4.5% it had earlier estimated.
In Q4, FY20 and Q1, FY20, a majority of firms expect revenues to fall more than 10% and profits to decline more than 5%. Post lockdown where 52% of the CEOs anticipate job losses in their respective Sectors post lockdown, 47% of the firms expect up to 15% job losses and another 32% expected 15-30% job losses.
As per the associate professor at best private hotel management institute in India, Amrapali, in the midst of this pandemic and the surrounding economic implications, several opportunities are arising in specific industries and many of the companies in these fields are experiencing unprecedented growth. Have a look at some industries that are witnessing promising opportunities –
Entertainment, Steaming & Gaming
The mobile gaming industry has been experiencing an explosion when it comes to downloads. Even the non-gaming entertainment apps are the sources of not only entertainment but also of constantly updated information about the virus, thus attracting a lot of followers.
Logistics and Delivery
The pandemic has proved to be a great opportunity for delivery companies. As the government told the public to stay at home as part of the most critical measure amid pandemic, the delivery apps have eventually outperformed.
Other industries include Non Cyclic Businesses such as Essential FMCGs, Pharmaceutical Business etc, and video conferencing apps.
Due to pandemic, the industries that have witnessed a decline in their growth include Airlines, Travel, Cruise, Investment banking, Share markets, tourism, transportation Oil & Gas, Construction, mining, Retail, Employment Services, Professional Sports, Entertainment & Cinema, Salon, food, Leisure, hospitality, Office Supplies, Gift Stores, Printing, Furniture, Motor Vehicle dealers, Private Equity, Venture Capital, Newspapers, Books, Cement Concrete, Product manufacturing etc.
The reputed associate professor at Amrapali Group of Institutes has also concluded that among the industries that have witnessed sudden increase in the growth and those which are witnessing decline, there are some industries that are a question mark. The success or failure of these industries totally depends upon how well these adopt a new technology and new processes. These industries include banking, education, healthcare, and manufacturing.
Undeniable, the professor has explained the impact of COVID-19 pandemic on India’s trading quite well.
The pandemic has proved to be a great opportunity for delivery companies. As the government told the public to stay at home as part of the most critical measure amid pandemic, the delivery apps have eventually outperformed.
Other industries include Non Cyclic Businesses such as Essential FMCGs, Pharmaceutical Business etc, and video conferencing apps.
Due to pandemic, the industries that have witnessed a decline in their growth include Airlines, Travel, Cruise, Investment banking, Share markets, tourism, transportation Oil & Gas, Construction, mining, Retail, Employment Services, Professional Sports, Entertainment & Cinema, Salon, food, Leisure, hospitality, Office Supplies, Gift Stores, Printing, Furniture, Motor Vehicle dealers, Private Equity, Venture Capital, Newspapers, Books, Cement Concrete, Product manufacturing etc.
The reputed associate professor at Amrapali Group of Institutes has also concluded that among the industries that have witnessed sudden increase in the growth and those which are witnessing decline, there are some industries that are a question mark. The success or failure of these industries totally depends upon how well these adopt a new technology and new processes. These industries include banking, education, healthcare, and manufacturing.
Undeniable, the professor has explained the impact of COVID-19 pandemic on India’s trading quite well.
Great to read the blog very apt and informative.
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