May 24, 2020 Krishna Vanzara 0Comment

There is no doubt on how today saving our lives from this life-threatening corona virus pandemic is our first & last concern. While this lockdown & quarantine time has been an overall different experience for each & everyone of us, where our life routines had been paused & stuck within our homes. But simultaneously, somewhere in the back of everyone’s mind, we were also concerned about how “Corona Virus will Impact our Indian Economy” & how are we gonna survive this hard times.

covid19 effect on indian economy, business in times of pandemic

So here are some of the Avid Entrepreneurs coming from different industry, we called up to know their thoughts on How “Corona Virus will Impact The Indian Economy”:

So starting with, we just had a word with the vigorous lady Aditi Gupta from Ahmedabad city, who is an Indian author and co-founder of Menstrupedia Comic.

Talking about the recent time, she said, “The way we work is going to change, the employability will drastically change. But still all of this is unrealistic and still unpredictable. But once we get through this hard times, we are going to be more compassionate to each other & businesses would be more compassionate towards the people who work with them. But still everything is merry guess and only time can say.”

Regarding how this quarantine has changed our life, she told us that,” I think we all will soon realise that it does not matter how much money & resources do you have when you are locked inside the room! Absolutely nothing matters, but what matters the most is your and your family’s mental & physical health! Rest everything can be recovered, be it economy or business, but right now we just need to take care of ourselves!”

The IT Industry has yet not been much affected and is still doing good with “Work from Home” concept! So to dig more into its future, we called upon Kumash Shah from TechicomTalking about the pandemic effect, he says, “I don’t think so there will be any negative impact on IT industry due to this pandemic. As the increase in number of virtual meets and technology, IT will play big role in coming times as every business needs website and online payment facility to smoothen operations. But due to economy slowdown, maybe IT projects releasing will take sometime.

Other than being the CEO of the tech company Techicom, Kumash Shah is also the co-founder of Profism: An app that has everything to provide Indian Youths better Job Opportunity!

So we asked him this pandemics effect on recruitments, “It will surely have a big impact on recruitment due to this COVID-19 situation as most of the business will prefer cost cutting and all new launch will be postponed. So i think recruitment will face major downfall in atleast 6-7 months.”

If something that has been reeling under slowdown since long, then it is Real Estate Market.

So to understand the scenario of Real Estate Market post Covid19, We reached up to Manish Punjabi, Partner at Vihav Group.

Covid-19 effect on Real Estate Market 

“Even before Covid-19 started spreading, World Economy was Suffering from a Global Slow down. The widespread of Covid-19 and the global Lock-down will completely shatter the World Economy. India, a developing nation has a long way to go to fight this pandemic. Real Estate Sector of Vadodara has always been a stable and safe market. It has never shown any disguised hike or downfall. Its called as a slow and steady market as compared to other cities of Gujarat.
Along with Wide-spread of Corona Virus happened other instance, where people started believing more in Investing in Properties and safeguard their money. One is YES Bank Crisis, followed by a Rapidly Falling Stock and Commodity Market. Covid-19 will definitely have an adverse effect on Real Estate Markets Nationwide. But at the same time it is now considered to be the safest Bet to park you money.
According to me, if the measures taken by Government of India helps stabilizing and minimizing the effect of Covid19 before end of May2020, I expect the Realty market to be back on track by following Diwali. 6-8months is the gradual slow down time I’m considering for Real Estate Markets of Vadodara.”
He further adds, “Even steps taken by RBI resulting into decrease of Home loans, ROI will surely support to bring back the routine business in the Realty Market.”
Lastly to understand how manufacturing unit will get affected due to this pandemic, we had Mr. Vimal Jaani coming to our rescue.
Talking about the overall situation, he said, “It affects a lot, a small business man not able to do business like regular day, because of that his income source has taken a halt & facing financial problem as well as his staff also… second thing all major transactions of bank will decline, so money rotations will affect due to this overall economy will affect.”
In particular to manufacturing unit, he said,”It will affect because manufacturer needs raw material for manufacturing and after that manufacturing material goes to sale, or to end user. In this scenario manufacturer can’t get easily the raw materials from his supplier due to restriction in travelling  & Transport, and won’t be able to manufacture anything, So ultimately not only manufacturer will be affected but all chain of manufacturing are affected with financial circumstances.”

So friends, if you are reading it right now, share with us your thoughts on how this pandemic is going to affect the particular industry you are working in and what measures you are taking to fight Covid19 effect on your business.

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