The Sectoral Impact Of Covid-19 On Indian Economy

Abstract

The objectives behind our research paper are to assess the sectoral impact of COVID-19 on three sectors namely - MSME, Consumer Retail and E-Commerce sector, and Aviation and Tourism sectors. The methodology that we adopted involved data collection secondary sources like journals, case studies, e-books, and news articles that provided us with the ability to gather information on other related strands of our paper. The key findings of our paper are based on the evidence we derived from the three sectors. MSME sector is the worst hit by the pandemic and deserves urgent financial and safety net from the government. Aviation and Tourism industry faced huge financial losses due to travel constraints and would only revive when the government introduced some extensive packages for travelers and airlines. The Consumer, Retail, and E-commerce sector dealt with supply chain disruptions with online businesses expecting some boost in their businesses. The online survey rendered conclusions on how behavioral patterns of consumers changed as they became more worried about their health, income, jobs, and other changes in other market segments. Nation-wide lockdown deprived us of the availability of economic data, therefore we resorted to other forms of secondary research options. COVID-19 is a new and complex phenomenon that has disturbed the world economies on various grounds like political, economic, social, and financial. Presently, there are very few studies evaluating the sectoral impact of this disease on the economy. Our paper on the sectoral analysis adds value to the existing literature and opens doors for future research.