how did the coronavirus affect the secondary sector?
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Answer:
social distensing ka palan nhi karne se
Answer:
Sailing through one of its worst times is India, where every day, new cases of coronavirus cases are being reported. The virus has not only affected human beings but has also shaken the economy, disrupting almost every industry and sector. It is difficult to estimate how the country will keep up the pace to be a five trillion economy by 2024. One of the hardest-hit segments is the manufacturing sector which had not yet seen much slowdown. However, the coronavirus outbreak has made the entrepreneurs scared stiff.
On March 19, the Federation of Indian Exports Organisations (FIEO) issued a press release stating that the micro, small, and medium enterprises (MSMEs) are likely to be worst-hit due to the coronavirus outbreak, particularly in the first quarter of FY 2020-2021. The release said the export sector has started feeling the pinch with many requests from buyers to hold back shipments till further instructions and significant number of such requests may eventually lead to cancellation of orders. According to FIEO, in cases where Indian exporters are adhering to the terms of contract, the force majeure clause is likely to be invoked by buyers to deny claim/liability raised by exporters. With exporters hit hard and imports from many countries including China and Italy being halted, the manufacturing sector in India is likely to be worst affected.
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