Covid-19: Second Wave Impacted Indian Business by 58%
The Covid-19 second wave and resultant lockdowns in the majority of the states have significantly impacted about 58% of Indian companies but India Inc remains optimistic about a strong recovery in the coming months.
The Federation of Indian Chambers of Commerce and Industry (FICCI) stated that the urban demand saw a sharp hit, 37% of firms have reporting a high impact on sales in rural markets as well.
“With the number of new cases ebbing and states getting into the ‘unlock’ mode, there is hope that business and economic activities would regain normalcy in the months ahead,” said Uday Shankar, president of Ficci.
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