The world is facing an unprecedented crisis. The outbreak of one of the worst diseases in history, coronavirus (COVID-19) has taken place – affecting 195 countries and territories, three million people and more than 207,900 deaths till April 27, 2020. India has over 28,300 people and 866 mortalities registered for COVID-19 till date. India is a huge country with a population of over 1.3 billion; therefore, the control of the outbreak will get difficult if the spread reaches to the community level. The doctors have predicted that the virus will advance at a higher rate in another few weeks, which will leave India into a shattered economy. The number of ventilators and critical care beds is believed to be sharply lacking, which in turn, will impact the functionality of the healthcare industry amidst the pandemic. According to the Union Health Ministry of India, there is only one isolation bed available per 84,000 Indians and one quarantine bed available per 36,000 people. In addition, the ministry showed the concern for the lack of healthcare professionals available in the country, stating one doctor per 11,600 people and one hospital bed available per 1,826 people. This projects the major concern regarding the treatment of the rapidly spreading COVID-19 in India. The healthcare devices manufacturers are realizing the industry prospects and engaged in the manufacturing of ventilators to increase their market size amidst the pandemic.
However, the country is taking the utmost measures to control the spread of COVID-19 pandemic. The rapid spread of COVID-19 has prompted lockdown across the country. On March 22, 2020, almost 80% of the states have announced the lockdown of their respective most affected districts. More than 50% of Indians are under a complete lockdown. “Apart from ensuring the safe return of hundreds of Indians from China, Iran, and other countries, the Indian government has taken decisive measures to contain community spread,” stated by the World Economic Forum. India has called for the ‘Janta Curfew’ on March 22, 2020, to control the spread of novel coronavirus to the community level. This effort has certainly created fear in public regarding the precautions and impression that COVID-19 can form on the people, and encouraged social distancing. Such factors are disrupting the growth of almost every sector in the country, which includes chemical, aviation, automotive, and manufacturing, among others.
Indian Automotive industry entered into the production of ventilators
The automobile companies were forced to shut down manufacturing units, which has disrupted supply chain, and in turn, growth of the sector. This will impact the country’s automobile production during this pandemic; however, as soon as the lockdown for COVID-19 ends, the companies will resume with the production of automobiles. However, theinevitable shortage of ventilators due to the rapidly spreading of COVID-19 has urged for the production of creative new solutions, with which, the world’s automotive manufacturers are trying their luck in the manufacturing of ventilators for this global pandemic. Likewise, on March 22, 2020, Mahindra Group announced to break new ground in the ventilators industry, to cater to the increasing demand for ventilators in India and across the globe.
OMR Global recently published report on https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-indian-economy
The Report Covers-
- Historical market growth estimation of India economy excluding COVID-19 pandemic effect
- Deviations in India economy growth rate due to COVID-19 pandemic
Verticals Affected Most
- Automobile
- Food & Beverage
- Chemical
- Oil & Gas
- Aviation
- Textile
- Retail
- Hospitality
- Others
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-on-indian-economy
Company Profiled
- Aditya Birla Group
- AMUL
- Hero Motocorp Ltd.
- ibibogroup
- InterGlobe Aviation Ltd. (IndiGo)
- ITC Ltd.
- Mahindra Group
- Maruti Suzuki India Ltd.
- Reliance Industries Ltd.
- Tata Chemicals Ltd.
