Indian Sector’s Condition During Covid Pandemic
Vaishnavi K. Padwad – MMS
Introduction –
The impact of coronavirus pandemic on India has been largely disruptive in terms of economic activity as well as a loss of human lives. Almost all the sectors have been adversely affected as domestic demand and exports sharply plummeted with some notable exceptions where high growth was observed. Now we will study economical and financial conditions of some sectors in India during covid-19 pandemic.
Objective –
To study about the condition of various sectors in Indian economy during the pandemic situation.
1] Politics during Pandemic
Purushothaman, U., & Moolakkattu, J. S. (2021) this paper discusses the politics centred on the COVID-19 pandemic in India. This paper is divided into two main sections. It focuses first on aspects of domestic politics that emerged or that were transformed following the pandemic during the first and second waves in the country and the second part focuses on the international ramifications of the pandemic in terms of foreign policy and related issues. The COVID-19 has provided an opportunity to the Union to make the Indian polity tilt towards an even more unitary direction. Pandemic in India has become reason of increase India’s international profile and bolster its credentials as a responsible stakeholder in global governance.
2] Fisheries Sector during Pandemic
A case study from three harbors in western india. (2021) fisheries activity in India was severely affected during the state of nationwide lockdown. The COVID-19 specific lockdown leaves fisheries workers stranded from sailing and operational tasks. This paper has showed the utility of remote sensing technology as a tool for tracking COVID impacts in the fisheries sector. The study demonstrates how geospatial technology can be utilized for monitoring the activities of the fishing industry during an emergency state like lockdown. The concept can be used as a tool for planning and decision-making for fisheries
3] Banking during Pandemic
Saldanha, A., & Nitin, K. (2021) the COVID-19 has affected the banking sector too. Individuals that preferred to interact with their banks in-person were the ones that were most affected. Unified Payments Interface was a great move and has had an incredible reach with the majority using the services and even preferring it over other traditional modes of banking. UPI has also gained preference over cash on delivery, in a country like India that used to be very reliant on cash, this is a huge step in digitalization of India’s payments system. Majority of the users believe that the future of India’s payments and banking systems will be fully digital. This would mean that India is ready to move forward from physical cash to e-money something that was unprecedented a few years ago.
4] Travelling Sector during Pandemic
Sandhya, H. (2021) pandemic has not only affected the economy but also various sectors like Tourism and Travelling also. In pandemic, many countries worldwide had closed their borders restricting international tourists thus by impacting the tourist industry. This paper study about overall impacts of the pandemic on the travel and tourism industry of India, the challenges faced by the different players in the tourism industry to survive the pandemic and opportunities that await in the future on a post-pandemic scenario and some of the methods adopted by the industry players to manage the future demand in the most sustainable and safe manner.
5] Rethinking on Travelling crisis during Pandemic
Vărzaru, A. A., Bocean, C. G., & Cazacu, M. (2021) a few months after the COVID-19 pandemic in 2020, tourism entered a global impasse, giving rise to a series of debates on the need to change tourism business models to become more sustainable. Now, the challenge for sustainable global tourism is to identify a balance between maintaining tourism revenues in developed countries by increasing quality and avoiding over-tourism and targeting international tourism to less developed countries. All stakeholders must contribute to the reconceptualization and restructuring of tourism to the redirection of tourism to orient it towards a sustainable and resilient model.
6] Stock Market during Pandemic
Shankar, R., & Dubey, P. (2021) the stock market performance in terms of average returns has declined due to the outbreak of COVID-19. But, Interestingly, COVID-19 has not shown a significant impact on Volatility Index, which implies that the risk perception of investors had decreased, which encouraged them to enter the market at low prices, thus improving market volumes. Due to reduced VIX and improved investor sentiments, trading activity increased thus leading to increased trading volume. It may, indeed, prove to be good news for investors as they can take advantage of the resilience in NIFTY 50 return by taking a long position to offset the losses incurred on other asset classes vulnerable to COVID-19.
7] Food, Agriculture during Pandemic
Khan, N., et. Al. (2021) in this research, we get to know that the world’s food, agricultural sector, markets and economy are not outside the impacts of COVID-19. The COVID-19 severely impacted the supply chain, which threatened the food safety and security of the most vulnerable people. Thus, the government should consider controlling epidemics without effecting the food security, safety and supply chain considerations of its citizens. To reduce the influence of the pandemic on agriculture and food, the FAO urges countries to meet the existing food requirements of vulnerable public and to continue the implementation of national food supply chain strategies, and support the power of smallholder farmers to increase food production.
8] FMCG Sector during Pandemic
Prabu, M. V., & Karthika, R. (2021) despite the GDP of India moving in the negative trend, very few sectors like FMCG have shown some positive signs because of this pandemic and the lockdown followed by it. Consumer staples will always remain essential irrespective of the economical movement. In particular, during the tougher times, whenever there arises an unprecedented scenario, the humankind will always try to safeguard itself and in turn that will certainly cause a high demand in the FMCG sector. In this paper, we will be analysing the impact of lockdown in the movement of the FMCG sector.
9] Retailer Sector during Pandemic
Khaled, A. S. D., et. Al. (2021) the pandemic has affected almost all facets of the economy. The retail sector has had many ups and downs between different retail formats and product categories. This study found that product variety, digital payment, scheduling, free delivery and lower rush have an effect on consumer behaviour. In addition, Standard Operating Procedures have no impact on consumer behaviour. The main reasons for the choice of a specific channel are simple available, protection, less hassle and compliance with all laws. The majority of hypotheses suggested are accepted in this analysis about the direct impact of shopping habits, sustainable eating and consumer behaviour during the COVID-19 era. Sustainable purchases have little influence on consumer behaviour.
10] Energy Consumption during Pandemic
Aruga, K., et. Al. (2020) as COVID-19 spread out worldwide, the energy consumption in India plummeted dramatically by the end of March 2020 because of this lockdown regulation. This study investigated how India has recovered its energy consumption after the decline in its energy consumption. However, the study found that In India, the level of energy consumption is strongly connected to household income levels, and the reduction in energy consumption indicates that the individual’s economic conditions are deteriorating. Therefore, the result of our study, revealing that poorer regions are struggling to recover their energy consumption to levels before the pre-COVID-19 crisis.
Conclusions –
Pandemic proved to be a positive influencer for Indian politics as it has given an opportunity to the Union to make the Indian polity tilt towards an even more unitary direction. Pandemic has totally stopped fisheries activities hence this study tells how geospatial technology helps to regain its performance again. Pandemic has been a reason for people to use UPI and do online transactions rather than physical/ cash transactions which will benefit for cashless nation objective. Pandemic has a very bad impact on travelling and tourism industry as international, state borders are closed during whole year. This study tells about the strategies that tourism industry applied to regain its sustainability. Stock market has a positive impact during covid-19 as investors wanted to invest more due to low prices. Covid-10 had mostly impacted (bad) on food and agriculture sector by risking many lives due to its safety factors. Unlike most sectors, pandemic proved to be good for FMCG sectors as consumer like to store the goods. This study shows that retail sectors have also been affected by pandemic due to different customer behaviour. Covid-19 has shows drastic effect on energy consumption as everybody was stuck at home during lockdown lowering the usage of energy.
References –
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