KOLKATA: India is currently going through a 40-day nationwide lock-down to curb the spread of Coronavirus. This has effectively stopped every non-essential economic activity, in our country. On Tuesday, a survey report from an industry collective gave us insight on the impact that this lock-down has had, on businesses.
Data from the Federation of Indian Chambers of Commerce & Industry (FICCI) survey said 72% of surveyed firms saw sales declining by more than 20% in FY20. “The COVID-19 pandemic is causing deep economic harm and could reverse the gains made in the industrial economy over many decades.
“There is a need to render immediate and sizeable support to (Indian) Industry (in order) to protect people, jobs and enterprises,” said Sangita Reddy, President of FICCI. In The FICCI-Dhruva Survey, 53% of firms said that their business operations were affected even in the early stages of the pandemic.
But business owners seem to be hopeful as 45.21% of them think that this situation will come under control in the next 6 months.