Impact of covid 19 over various service sectors of India

COVID-19: A Boon Or A Bane for the service sector in India

As we all know that the workforce of the whole world has come to a standstill due to the outbreak of COVID-19.

Due to the COVID-19 outbreak the world powers are struggling to maintain their GDP rate and keep their economies in a healthy state.

In this post we will discuss how major industries have suffered because of the COVID-19 outbreak.

• Industries With A Negative Impact

1.)Travel Industry

Unfortunately for travelers and the travel industry, the outbreak of COVID-19 has become a curse. The travel industry had started to deteriorate the moment the global lock-down was announced. Many of the major tourist destinations in the USA, China, India, Russia, etc have been sealed off by the governments of the respective countries because of COVID-19.No flights are taking off, no trains are running, no hotels are being booked as you are reading this blog.

The source of income for huge brands like Cox & Kings, Trivago, etc has stopped. Though there are various business strategies through which these companies can help each other survive but the chances are very low as the last date of the lock-down keeps getting extended. Only a cure for COVID-19 can save these industries.

As we speak, many of the travelers around the world are becoming frustrated as they continue to sit at their home.

Travelers want to escape into the freedom of the outer world. This factor alone will bring a huge spike into the business of the travel industry once the lock-down is over.

The complete recovery period of the damage dealt by travel companies is projected to be about 3 to 6 months.

2.)Smaller Businesses

Due to the lock-down that was placed due to the COVID-19 outbreak many of the smaller businesses have suffered a lot due to a drastic fall in their sales and income. This has happened in India on a large scale because there are so many small businesses in India that account for the daily income for the owners of those businesses.

COVID-19 is indeed a curse for the middle-class families living 

in India.

Though this has happened in a lot of other countries as well but the governments of those countries are ensuring that their people do not suffer. Many such efforts have also been made by the Indian government but the population density of India is such that these efforts will not be enough for the well being of the people of India if COVID-19 was to spread in India.

As the fear of the Coronavirus rises within the hearts of the people of India, many of the daily wage workers have retreated to their villages thus reducing the work-force in many states of India leaving such businesses to fend off alone in such tough times.

Industry With A Positive Impact:

1.)Chemical Industry

A spike in the business of companies like Dettol, Life Buoy, and many other soap, hand sanitizer, and face mask companies were observed.

It is just like COVID-19 has befallen upon these companies like lady luck. The consumption rate of the products of such companies has increased exponentially during the coronavirus outbreak. As there is a need for sanitation within the households of the people and multiple private or government buildings, the products of Dettol, Life Buoy, and Savlon are flying off the desks of local chemist shops.

India is also preparing a large stock of Hydroxy Cholorquine to send the stock to 55 COVID-19 hit nations, as Hydroxy Chloroquine has been identified by WHO to be a possible cure to COVID 19.

Make sure you buy yourself a face mask(N95 recommended by World Health Organization) and a sanitizer if for some reason you have to step outside your house.

Stay Healthy and stay safe.