Qu 3 Impact of Covid-19 pandemic on following Indien Industries Attempt any three
a Pharmaceutical Industry
b. Textile Industry
c. Automobile Industry
d. Tourism Industry
e. Real state industry
Answers
Answer:
1. Travel and Tourism Industry
Traveling is restricted due to coronavirus outbreak, so the inflow of tourists from other countries to India will be dropped that would impact the tourism domain and revenue.
The World Travel and Tourism Council (WTTC) has notified the cut of over 40 million jobs worldwide in the travel and tourism industry due to the COVID-19 outbreak, the industry already faced a quarter slump this year.
Travel restrictions could also complicate the traveling of medical authorities and the delivery of medical stock.
The reduction in global travel in 2020 might lead to respective cuts in jobs. In order to regulate it, local authorities also try to eliminate or shorten visas wherever possible, decrease travel taxes and propose incentives once this epidemic is under control.
2. Auto and Manufacturing Industry
COVID-19 impact on Indian companies will fluctuate and confide on some extent of business with China and other countries. As China’s business is affected badly, however, ongoing stock of inventory appears to be adequate for the Indian auto industry. But if the closedown in China stretches then it is supposed to the little shortenings of Indian auto manufacturing in 2020.
Manufacturing Industry will experience one of the hardest hit by COVID-19; This sector will be one of the hardest hit by COVID-19, though some factories are starting to come back online as of this writing.
The automobile, rapid-changing consumer products, and pharma division have been influenced severely because of supply disruption from China.
A huge impact on the manufacturing workforce as most of the workers cannot work from home that will bound the production unit at huge-scale. Millions of workers cannot go back to their work due to quarantine or travel restrictions. (Source)
3. Pharmaceutical Industry
In contempt of being one of the finest systems of medication exporters in the world, the pharmaceutical industry of India depends massively on the import of bulk drugs. Due to transportation restrictions, it will also be struck.
The pharma industry will observe developed stress on supply chains, but constant demand will secure additional growth. But growth rates will be cheap as unnecessary purchases are limited.