How Coronavirus effect to the economy after lockdown In India
The corona virus Pandemic has hit India at the scale that we have seen only in doomsday films. But the truth is that it is way more terrifying than fiction. The human cost of the COVID-19 is going to be unbelievably high.
India has reported many COVID-19 cases and death toll crossing pretty high at current stage. Along with people, it has also impacted the businesses and become a big threat to our Indian economy. The main issue is not the rising number of corona virus cases in the country, but the level of disruption to economies due to lockdowns.
Let us find out how it will impact the Indian economy after lockdown and how to survive in business in this time of crisis!
Impact of Corona virus on the Indian Economy
After the 21 days lockdown, the Indian government extended the lockdown till 3rd may, 2020, to stem the spread of Corona virus. Then further lockdown 4.0 has been imposed too.
According to the survey conducted by Dhruva advisors and Ficci, businesses are dealing with "great uncertainty" about their future. They took responses from more than 350 companies across every sector. According to this survey, Corona virus pandemic lockdown is having a deep impact on the Small and Medium Scale businesses.
The jobs are at higher risks because companies are thinking about downsizing over the coming months. In the last few weeks, the unprecedented collapse has been seen in economic activities due to the COVID-19 crisis. The businesses are facing a ‘high to very high’ level impact during this lockdown situation. Moreover, more than 70% of companies are expecting a de-growth sales this year.
How to survive in business in tough times and Opportunities after the pandemic?
Much uncertainty is experienced these days, especially for many businesses due to the economic impact caused by the novel coronavirus. Consumer habits are changing, and they will prioritize more digital activities. Here’s how they survive and look for new opportunities after this deadly pandemic.
- We will live in a digital world; therefore, companies must adapt their products and services to a digital or semi-digital model incorporating E-commerce, which under the circumstances we currently live in, has become necessary.
- Moreover, placing your free classified ads on a website like Izydaisy helps you to get more sales not only in this time of crisis but also after the pandemic ends. The free classified websites help customers to find products from the local marketplace. People are using these kinds of platforms more in this quarantine period.
- For companies, it is time to look for digital partners to strengthen their online offer, develop channels of direct interaction with their customers, use digital marketing, offer electronic means of payment, and optimize their delivery option, among others.
- In the case of Business to Business (B2B) businesses, we recommended that they focus on using corporate social networks to generate Leads and capture the attention of potential customers. That will be the best way to retain your current customers.
Conclusion towards solution as Free classified ads:
No one can say for sure what its long-term impact could be in an evolving crisis. Its structural risk is affecting everyone as economical as biological. The Indian economy would take a lot of time to recover even after the pandemic overs. But, the above strategies like adopting a semi-digital model and placing ads on free classified ads websites can help the businesses to survive in this tough time.