1. IMPACT OF COVID19 ON FINANCIAL
SERVICES OF INDIA
India faces a sharp decline as the coronavirus hits
economic activity . The rapid spread of coronavirus
across the world threatens into a global recession and
now for india the outbreak presents challenges
containing the disease spread and slowing
economy.Our economy is affected because of external
environment which we can’t control and it’s mainly
affected operations of business.Inmicro enviroments
its hits suppliers , customers, marketing intermediaries
and financiers and macro environment its political
,social , economic technological and demographic
factors.
Impact on Indian trade
The indian economy has been experiencing significant
slowdown over the past few quarters. Investment and
consumption demand had been decreased and
number of measures has been taken to bring back the
economy on a grow path. The outbreak has presented
a new challenges for Indian economy , impact both
demand and supply which has a potential to derail
india economic growth. There are few sectors which
2. are highly affected of Covid19 are tourism , hospitality,
aviation ,and entertainment industry.
Travel and tourism – Tourist are getting scared of
travelling because of that drop of bookings in virus
affected destinations . Domestic travellers also cancel
their travel plans .
Entertainment- Entertainment industry is also suffered
and the sharp losses at the box office which will be
difficult to turn around.
Electronics- China is the big suppliers of electronics
products so price could increase if the supply is
stopped.
Financial market- Covid 19 has also made the financial
market volatile , leading to huge crashes both bse and
nse sensex & nifty crashes by 8% in a single day
International trade
Many countries are like usa are the major market for
many Indian products like food ,medicine ,gems and
jewellery etc its incurs losses due to fall in exports.
Agriculture and food processing – Poultry sector is
likely to adversely hit by the coronavirus . Rumors are
spreading through social media coronavirus infection
will spread by consumption of meat and poultry
products this has caused enormous destruction in
3. demand of poultry products and the prices have been
fall down to 10-15 per kg .
Covid 19 adverse impacts
The current going uncertainty surrounding the
economic impact of coronavirus in which there are
17615 cases in india right now and no one is clear
about how and where the virus is going to spread.
Since a lot depends on what happens with coronavirus,
there has been a country lockdown . It is a transmission
disease which spreads public gathering have been
called off . There was no vaccination available for the
virus to control.Some guidelines has been given by
government to come out from this virus like use mask
and sanitizers regulary . Install Arogya setu app on your
phone to get alert of virus and many more
informations is been given to fight against
coronavirus.The impact are so adverse because its hit
almost all the sectors and almostall the countries.
Ankit sha
