Impact of covid-19 on Global indian business and society

1. Impact of COVID-19 on Global,
Indian Business and Society

2. INTRODUCTION
• Coronavirus disease(COVID-19) is an infectious disease caused by the
SARS-COV-VIRUS. It has caused millions of deaths around the world as
well as lasting health problems in some who have survived the illness.
• The first case of COVID-19 was reported on Dec.1,2019 in Wuhan, China.
Symptoms such as cough, fever, difficulty breathing, runny nose etc. show
up in people within 2-14 days of exposure to the virus.

3. • The current total cases in the world are 31.1
crore and the current total deaths are 55 lacs.
In India the total cases are 3.59 crore and
total deaths are 4.84 lacs.
• The Covid-19 pandemic is a social and an
economic crisis just as much as it is a health
one. From school closures to devastated
industries and millions of jobs lost,Covid-19
has widen inequalities everywhere.

4. Impact on Indian Economy
On January 30, 2020, the first case of COVID-19 in India was recorded in Trissur, Kerala.
Initially, the country implemented a virus-containment policy, which included steps such as
● quarantining people travelling from high-transmission areas,
● isolating affected people,
● restricting people's travel from areas with
high numbers of cases.
India imposed limitations on public meetings,
domestic and international air travel,
and the closing of public spaces.

5. These restrictions put a strain on the economy, and the agricultural, manufacturing, and service
sectors all suffered severe impacts.
Business face an uncertain future: Pandemic affected Non-essential and Small businesses the
most, which led to cash crunch within their businesses. It impacted the agriculture sector, as
farmers were unable to get proper logistics in place.
GDP growth is expected to decrease: Major Companies had to shut down their plants which
resulted in direct output loss.
Investor confidence has taken a hit and market investments are declining: Investors
became panicked and began withdrawing their funds from the market. As a result, stock values
have dropped across the sectors.
Gap between Demand & Supply: Disrupted Supply chains caused scarcity of resources.
However, the demand for the good was going to be same, might even rise. This resulted in gap
between Demand & Supply.

6. Impact on Global Economy
The coronavirus epidemic has come to nearly every
countries in the world.
It's spread has left the national economy and businesses
accounting the prices , as the governments struggle with
new lockdown measures to stop the spreading of the
coronavirus
Despite the event of recent vaccines, many are still
wondering what recovery could seem like.
Here could be a selection of charts and maps to assist you
understand the economic impact of the virus up to now
Global shares in flux.
There are big shifts accessible markets, where shares in
companies are bought and to be sold, can affect the price of
pensioners or individual savings accounts.

7. COVID-19 has a great impact on the socio-economic status and this include
● Loss of skilled and experienced workers
● Reduced supply of labour
● Loss of key staff and activist which may lead to poor organizing
and defect in support of community
● It causes poverty through the loss of life of wage earner
● It reduced productivity and negative impact on economic growth
● Every component of aggregate demand – consumption, capital
spending, exports – is in unprecedented freefall

8. Impact of COVID-19
on
BUSINESS SECTORS

9. AUTOMOBILE SECTOR
• The pandemic-induced lockdown resulted in
the shutting down of production at original
equipment manufacturers (OEM) globally.
• It also led to disruption of the entire value
chain of major industries in India, and
therefore negatively affected production of
auto spare parts in micro, small and medium-
sized industries.
• The reduction in consumer demand for
passenger vehicles contributed to a loss in
revenue and a severe liquidity crisis in the
sector.

10. ○ According to the Society of Indian
Automobile Manufacturers, the sector
registered negative growth in sales of all
vehicle categories in FY21 (2.24% decline
in sales of passenger vehicles, 13.19% fall
in sales of two-wheelers, 20.77% fall in
sales of commercial vehicles, and 66.06%
fall in sales of three-wheelers).
● According to the Parliamentary Panel report, the estimated job loss in
the Indian automobile sector stood at 3.45 lakh.The largest carmaker
Maruti Suzuki cut temporary workforce by 6%, following the drop in
car sales.

11. REAL ESTATE SECTOR
● The COVID-19 pandemic has curbed the
growth of multiple business sectors,the real
estate sector is one of the worst affected by
the coronavirus.
● Visits to the sites continue to fall as sales
numbers dwindle and project deadlines are
pushed back.Moreover, with increasing
supply constraints, the migrant crisis, and
liquidity concerns because of COVID-19,
India is facing a severe slump in realty
demand and supply.

12. ● The lock-down impacted both residential and commercial sectors –
while 73% of the residential developers witnessed a complete standstill
in sales, more than 90% of the commercial developers witnessed delay
in (either whole or part of) their rental receipts, reduced footfalls in
retail malls and less than 5% occupancy in hotel properties.
● To ensure profitability, most developers are
focusing on reducing fixed costs (36%) and pay
cuts (41%). Close to 20% of them are also
considering workforce reduction. While pay
cuts may be in the range of 10%-25%,
workforce reduction may be in the range of
10%-30%.

13. ● The impact of COVID-19 was felt
globally as well. Real estate sales drop by
90% in china,European countries such as
great britain and italy fell by 70%.
● The same situation was shown on the real
estate market in Republic of serbia.The
U.S real estate market also experienced
drop in sales.

14. Healthcare Sector
Introduction:
As a result of the COVID-19 pandemic, many
hospitals and healthcare facilities are experiencing
severe financial difficulties. This load has impacted
patient care, operations, and surgical results.
On the whole, a lack of readiness played a significant role in the difficulties that
healthcare facilities around the world have faced. PPE for healthcare professionals,
medical equipment, sanitising supplies, toilet paper, and water were all in low supply.
COVID-19 exposed these flaws, prompting healthcare institutions all across the world
to devise new pandemic preparedness plans.

15. Impacts of COVID-19 on Healthcare Sector
Disruption in the Supply Chain:
Healthcare facilities were forced to reserve available products due to the supply
chain disruption. To keep up with the expanding number of patients, a large sum
of money was required. As a result, the healthcare industry was put under a lot of
financial burdens. There have also been instances of unauthorised products being
used in healthcare settings.
Shortage of Healthcare staff and Rise in patient care:
The Centers for Disease Control and Prevention (CDC) underlined the importance
of social isolation. People with large families and small homes didn't have the
luxury of maintaining their distance. As a result, the number of patients visiting
hospitals increased. Due to this,, hospitals had to devote their whole focus to them
and enlarge their healthcare workforce.

16. Disposal of Waste:
To be thrown out, all vials of blood and body fluids from covid patients, as well
as equipment such as PPEs, were to be placed in special garbage bags. The
problem was that these bags were made of plastic and were difficult to burn. This
resulted in increased pollution in dumping sites due to garbage collection, which
led to a new wave of disease outbreaks that harmed the population.
Overwhelmed Morgues:
Several people died due to the pandemic. Patients are temporarily held in
morgues until they are picked up and buried by family members. Lockdowns are
in force, and hospitals are not allowing visitors. As a result, the healthcare sector
was impacted because even morgues were at limit and there was nowhere to
place bodies.

17. Impact of COVID 19 on Education Sector
COVID-19 has wreaked havoc across the world and
especially education sector has been hit hard.
According to UNESCO over 800 million learners from
around the world have been affected.
● Online teaching and learning.
● Students who struggle getting resources.
● Teachers now getting habitual to online teaching.
● Helpless illiterate parents struggle to help their
children in their education.
● Lack of personal interaction between teachers and
students.
● Public financing education in OECD countries.
● International students mobility.

18. Impact of COVID-19 on Education Sector
● While the Global Campaign for Education (GCE) acknowledges the public health decision to
close schools, and believes that contingency plans should be in place to ensure the right to
education even in times of crisis.
● Education is an essential right for children, young and adults in emergencies and must be a
priority from the very beginning of any and all emergency responses.
● GCE calls on the national governments, and donors:
1) To prioritise education in the first phase of all emergency responses with immediate effect,
and to include education in their COVID-19 response policies..
2) To dedicate appropriate resources, financial and technical, to ensure the right to free, quality
public education for all is maintained during the COVID-19 crisis.
3) To increase funding and support to education in crises to a minimum of 4.2% of emergency
assistance in line with its needs.
4) To minimise the pressure on teachers, schools and school systems that remain open or
volunteer to offer extra support.

19. Impact of Covid-19 on Service Sector
The service sector can be explained as an intangible economic activity that can neither be stored
nor result in any ownerships, but plays as a very crucial role in the countries economy.
The service sector has a very significant basis and there are many more people who are
employed in Indian Service sector. It contributes 55 percent of the total Indian Economy. The
COVID-19 has worst impacted each and every sector of the market so as the service sector.
Every pandemic brings change in the consumers choices and preferences which could highly
impact the markets. To understand this better
Hotel/ Restaurant Sector- Approximately
1.42 crores of people are employed in the restaurant business
on permanent basis and there are many more employed
in daily basis. After COVID almost 72% of people don’t want to continue having food in restaurants
as precaution this is a very declining sign for the restaurant
industry and also the country’s economy since if people don’t
prefer to have food in the restaurants the government
will be losing the income from this sector in terms of tax.

20. Transport Service - Transport services Contribute to a greatest extent to the country’s
economy, the rail, road, air and water ways are busy round the clock, the Indian roadways are
the 2nd top busiest roadways in the world . Due to COVID-19 a global pandemic all transport
activities except those are essential as per requirement of circumstances, were
stopped for few months, and the unlock brought
relaxations and given freedom for travelling anywhere
within the county. The public transport like rails , metros ,
buses and flights have not seen a recovery even after
the lockdown has ended
Social and Personal Services includes the parlors, salons,
carpenters, plumbers, electricians.,lawyers , medical care etc
.in this category only the health care is at its break-even point
neither profit nor loss. Remaining services are facing a decline
and a very huge impact because all these services need
the intervention of human capital . the customers have a fear
of spreading of the virus through these service providers .

21. There are a some of the business sectors which have not only got negatively
impact on this global pandemic, but there is also a silver lining for them in this
covid pandemic situation – and here we are talking one of such prominent
sectors which is Information Technology (IT). The IT industry didn't only
manage the current situations competently and appropriately to keep their
workflow and IT sector continue, but it has been the savior of various other
business sector as well.
COVID-19 pandemic has caused so many
unwanted and unprecedented changes in every
industry sectors whether it is Automobile,
Hospitality, Aviation, Retail,education and others.
Impacts of COVID-19 on the Information Technology (IT) Industry

22. The majority of these sectors have experienced the negative impacts in this
pandemic or lockdown circumstances on their respective business sector and
organization regardless of this global crisis, the revenue of the IT Industry was
calculated at around USD 190 Billion for 2020-21, and it is expected to reach around
USD 300-350 Billion by the year-end 2025.
• Around 35-38% of tech-giant organizations are likely to improve or build up
their IT operations and infrastructure due to the COVID-19 outbreak.
• Major companies of different sectors have give an account of an average
of 5-10% growth in IT expenditures due to the COVID-19 pandemic.
• The Cloud Software and automated Platforms have comparatively observed
the fastest business expansion in 2020 when everyone was working from home as an
opportunity

23. BOOST OF IT SECTOR
Zoom alone experienced year-on-year growth of around 340-345% within the year
2020. Similarly, thanks to the COVID-19 crisis, there has been a big shift in technology
adoption and digitization worldwide – the digital adoption has fast-forwarded by
around 3 years.
Facebook ,Twitter and other IT companies have already made a public announcement
about its permanent work from home plans. Similarly, Facebook has also officially
hinted that around 50% of the company’s workforce could be working remotely within
the next 5-10 years.
The recent involvement of the IT Industry within the healthcare domain to affect the
coronavirus crisis is additionally one amongst the most important reasons behind the
upward trend of this particular sector in terms of growth and demand.

24. Impact of COVID-19
on
SOCIETY

25. Lockdown has proved that “man
is a social being” because
continuous lockdown for about
four months have impacted
people psychologically and the
burden has been faced by women
and children in the form of
domestic violence. In the
lockdown period, multiple calls
have been received on the
helpline number made for the
people going through domestic
violence.
Social- Distancing
The act of “social-distancing”
sociologically, is a new form of
untouchability. As earlier in the Indian
society after the Vedic period, people of
the upper caste used to maintain social-
distancing with untouchables so that
they don’t impure the people of the
upper caste. On the same pattern, in the
contemporary society due to COVID-19
all the constitutional norms eliminating
untouchability and promoting
integration , seems to be failed as people
are being asked to maintain social-
distancing. Of course, it (social-
distancing) is the only measure to
control the influence of COVID-19 and
it should be promoted but we need to
see the impact of this pandemic on the
society how it has revived the social
discriminatory practices.
Mental Health

26. The migrant workers depend on daily
earnings, they barely have savings which they
could spend during any emergency. Many of
them have already abandoned this world,.
Those who didn’t have many resources left
with them started to move to their villages
because of the unavailability of jobs and
money in the cities. Walking thousands of
miles barefoot with their child, pregnant wife,
we can’t feel the pain because only those can
feel it who bear it. Apart from migrant
workers, gig workers have gone through a
similar issue though it has not got much
attention in the news. For these workers like
delivery boys, cab driver etc. COVID has
brought the world to a stagnant position.
Migrant Worker Standard of Living
With the effects of COVID-19
society at large has faced obvious
financial crisis, due to which
people generally compromised
with their standard of living. A
moment of necessity arrived and
people purchased what was
necessary for them. The COVID-
19 pandemic has resulted in high
unemployment rates and
bankruptcies, while threatening to
have a lasting effect on living
standards. While people and
economies shift to new sectors,
the adjustment is expected to be
long and painful.

27. Remember, we are in this together
Stay Safe
Thank You.