Indian business environment during Covid-19

Covid-19 has come across as a shock to the whole to shrink the global business to its lowest. The turmoil has been prevalent since the onset of the lockdowns and restricted movements. In India, the scenario hasn’t been quite different.

India is considered to have imposed the strictest lockdowns globally. With a population of 1.3 billion, India resorted to lockdown as a major step to control the pandemic outbreak. With the onset of this lockdown, the business environment experienced some major changes. Read below to know more.

Supply

India’s supply chain has experienced a great loss and disruption due to the pandemic. The major task that lies ahead of the suppliers is whether they will be able to work it out in the future owing to the uncertainties along the way. The security of the suppliers needs to be taken care of.  The movement of goods along the supply chains needs to be made more flexible and smoother with highest order precautionary measures.

Change in consumer demand

Between the onset of lockdown and resuming of services, a large shift in consumer demand has been observed. It is important for the brands to understand and analyse these shifts to attain their objectives. The dynamism of consumer’s demand has been observed on a larger scale during this pandemic.

Labour

India, which is a labour-intensive market, is facing great difficulties due to shortage of labourers. Some of the major sectors such as manufacturing, jewellery, textile and agriculture are highly dependent on the workforce. With the incoming of this outbreak and movement of labourers, havoc in the entire business field is visible.

India is facing a serious challenge in tackling the various aspects of the business. With so many sectors and a huge population, firms are trying hard to bring back normalcy and working towards the revival of the economy in a systematic manner.