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Which industries & businesses will remain down after the CoVID-19 lockdown ?

Covid 19 Lockdown Business

As it stands as this blog post was being published, the government plans to lift the lockout on May 3, 2020. I firmly believe that, if this occurs in a staggered way, life will not be normal for a while, not until we get a COVID-19 vaccine.

Each of those businesses would have an impact on the education market. This would have a strong effect on the IT industry with each of those sectors suffering.

 

Could the government save any of those industries? 
 

  1. Restaurant, Take Industry 
  2. Tourism Industry 
  3. Wedding Industry 
  4. Overseas Education Industry 
  5. Automobile Industry 
  6. Entertainment Industry 
  7. Religion Business 

 

 

Restaurant, Take Away Industry 

Covid 19 Restaurant

The restaurant industry's annual turnover in India is on Rs 4 lakh crore ($52.6 billion). This industry employs a whopping 7 million, which is bound to be even higher if you add the restaurants from the unorganized market. Sitting down to dine will popular significantly. Star hotels can continue to have a company in the near future but not to pre-lockdown rates.In Pune “Priya(Camp), Vaishali (Deccan) , Anna Idli (Marketyard) , Sunderam (Nr.Timber market) , Shree Krushna Misal (Tulsi Baug) , Bedekar (Nr Tilak Road) , Katakir (Markketyard) ,etc .” restaurants are popular. People will go back to these idli-sambar & misal restaurants because for many these restaurants was the primary source of inexpensive (and frankly – tastier) food.

Food distribution could retreat back gradually, but people should be extremely patient and careful, one bad news from COVID-19 people should return to their shells. This sector's decline would affect other sectors, such as hospitality education, automotive industry,  commercial rentals.

 

Tourism Industry 

Covid 19 Travel

In India Tourism is the largest service sector with a 6.23 per cent contribution to the country's GDP and 8.78 per cent of the nation's total jobs. India annually receives more than 5 million international tourists and 560 million domestic tourists. The travel industry was forecast to have $46 billion in revenue for the year 2020, and rise to $488 billion in 2029. That's a huge problem now.

Traveling by train, flight, buses, taxis is actually not advised before things settle down, to be read as 'vaccine ready state,' which most experts say is at least a year away from now. Students pursuing a degree in hospitality are very worried about their work opportunities in the coming years. As hospitality opens up there will be an oversupply of fresh graduates.

 

Wedding Industry

Covid 19 marriages

Weddings, a $50 billion industry, are among the most auspicious activities for most Indian communities. Caterers, banquet rooms, decorators, gift companies all of a sudden become unemployed. In at least one year at least, smaller scale, basic weddings should be the latest trend.The pandemic is now very badly affecting the industry that was supposed to be "recession free."

Most of the weddings either have been canceled or postponed until the end of the year, or have been significantly scaled down.

The wedding industry is divided into different groups, beginning with high-end event planners, large inventory and manpower-based decor firms, catering companies, small to mid-level photography companies, jewelers, clothing industry, etc. India's gold consumption in 2020 may fall as much as 50 percent from a year ago to the lowest level in almost three decades.

These units create one of the country's most significant day-to-day job structure. This industry is very labor-intensive, the outbreak has created a massive economic crisis causing unemployment among the daily wage workers such as decor labor, catering unit labour, flower seller, cleaner, waste picker, etc. Most of them receive Rs.500-800 per day shift which is normally a 10-12 Hr shift.

On the highest tier lies corporations with a monthly payroll are event agencies, ornament corporations ,etc who several have some extra funds available to sustain for few months while not weddings. a number of these corporations got to do atleast one hundred weddings annually to sustain.

Many wedding planning agencies had to mention this,

Most weddings can move towards changing into a middle to small-scale affair. This in fact will depend upon the governments regulation on mass gathering limits for consecutive one year.

Families can favor to either host their weddings in their farmhouses if they need the luxurious to try to to thus or move it to open venues, field areas etc and keep one's distance from cool banquets and halls for consecutive few months in 2020.

Sanitization are going to be the requirement of the day and one must return up with effective measures to sanitise the event venue, entry points and through the events.

 

Overseas Education business

Covid 19 education effect

Every year concerning 250,000 students go overseas for his or her education. Most students are suspending their studies abroad – either because of family pressure or the faculties are gap solely in 2021.

Indians pay over $8 billion p.a. on educating their kids abroad. Students not going abroad can hurt the North American nation, UK, Australia and in return, it's going to save tons of foreign exchange for Asian country.

Majority of scholars go abroad for his or her graduate (MS, PhD) studies. Most of them can remit their year. However, college man students are expected to pursue their studies abroad.

However, this postponement can hurt education consultants, SAT/GRE/GMAT/TOEFL examination getting ready coaching job classes, flight sector. However this could not have a huge impact on our economy.

There is plenty of uncertainty for these students – categories being delayed, paying high tuition fee however attending on-line categories from Asian country, jobs when graduating, obtaining work visas.

Shubindia , Advertising Agency In Pune said ;

Online education ventures (the only ones advertising in newspapers) can profit throughout these times. If govt permits, a number of foreign universities might fasten their plans to start out their operations in Asian country.

 

Automobiles Business

Covid 19 automobile sector

The automobile business worldwide has been hurting, Asian country isn't any totally different. Work From Home can have an effect on the automobile business. The concern of getting Corona may force some to venture out to buy a 2 wheeler or a low finish four wheeler as they will not need to use public transportation.

Over 1,000,000 are utilized within the automobile industry. automobile dealer showrooms are cutting jobs for a year. The MSME sector that provides automobile components can take an enormous hit, banks can need to return up with new product tailored to tackle their income problems.

 

Entertainment Business

Covid 19 video streaming entertainment

Malls are shut. Theatres are shut. individuals have gotten at home with OTT – Prime, Hotstar, Netflix, Zee etc. With movies not being free in theatres, their main supply of revenues are going to be from OTT which is able to not complete the loss from theatres. several big-budget film releases are delayed.

Daily serials have stopped airing recent episodes as shootings are stopped.

TV News channels have multiplied their viewership however we have a tendency to are going via a Corona-fatigue. With several industries upset concerning income, they're not spending on advertising.

With no recent content on TV and theatres, Doordarshan has made the simplest use of this chance. Prasar Bharati has been airing old, rather very old booming serials like Mahabharat, Ramayan, Chanakya etc and it's been a huge hit.

 

Religion Business

Covid 19 religion

The market size of temple business in Asian country is $40 billion. The retailers around a temple – flowers, eateries, hotels have shut as all religious places are shut because of lockdown.

About 60% travel for expressly spiritual and pilgrim's journey purposes. The transport business is one among the large beneficiaries in temple cities. Pilgrimages are common across economic status.

In view of social distancing, several might not feel safe to go to religious places, particularly on festival days. This may have a right away impact on the income of these who rely on pilgrims, they'll realize it tough to fulfill ends on a daily.

 

Other Industries

 

There are several alternative industries that may see a activity change from their customers. Take the case of Salons – individuals are talking concerning shopping for all the required tools (all forms of scissors) and obtaining the stylist to come back home (which isn't 100 percent safe). corporations like UberClap, may benefit from this move.

 

Conclusion

Discretionary spending is expected to come back down. Without government’s support it'll be tough to restart industries. A good rescue might price the govt. about ₹10 trillion additional.This is the time for every people to introduce and bounce back. We have a tendency to are down however not defeated. We'll make a come back. And let every people do our bit to recover high.

 

~Shubindia , Advertising Agency In Pune.

 

 

 

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