Businesses facing the wrath of coronavirus may take longer to revive

Coronavirus

Even as Cabinet Secretary Rajiv Gauba recently said that there is no plan to extend the ongoing nationwide lockdown beyond 21 days, businesses may take longer to get back in shape after facing the blow of the Covid-19 pandemic. 

The businesses facing a crisis situation due to drop in demand and zero footfall in the market may take nearly 6 months to get back to normalcy, as per a FICCI survey. 

While 42 percent companies project that the businesses will come back to their normal pace in three months, 47 percent companies estimate nearly six months will be needed for this.

6 percent companies estimate that it would take nearly one full year for the companies to comeback to their original pace. 

FICCI’s survey has also revealed that over half of the businesses in India are hit by the impact of Coronavirus outbreak at the early stages. 

Most of the companies have reported a sudden fall in the number of their orders, disruption in the supply chain, and eventually a fall in cash flows.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for BFSI Webinars and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.