Corona lock down gradually rattling Indian private sector economies and self employed citizens

Corona lock down gradually rattling Indian private sector economies and self employed citizens

Most of the industries are reeling under immense pressure for sustainability, with hardly any influx of revenue due to the lockdown. Most of them are also under obligation as advised by Government of India to pay salaries and abstain from laying off employees. Meanwhile twitter is abuzz with chatter on differences between essential and non-essentials, both essential and non-essential industries are taking the hit, except few essential ones who are serving people daily.  Enterpreneurs are complaining about lack of funds without business to pay salaries, rent and maintainence of the current infrastructure. Many of them are also under legally binding contractual agreements for recieving services from 3rd party, which are currently being unused in lease period. Central government to ease pressure, provided several relaxation in orange and green zone giving some respite but did’nt consider the factor of several red zone being major contributor of economy – including Mumbai, Delhi, Noida, Hyderabad, Bangalore, Chennai and several other cities which were epicentre of manufacturing, distribution and service industry.

Central government took a commendable step of enforcing lockdown 1.0 while the cases were well controlled at 500+ with intention of flat lining the curve, but various factors including Migrant labours, Religious community gatherings, political protests and few irresponsible citizens who became super spreaders made the effort looks stupid. Almost all Industries including – Media, Non-essential manufacturing units, distribution chain, Cab aggregators, Tourism and Hospitality, Apparel and Fashion, Home Appliances, Baby and Kids Products, Electronics, Information technology etc are taking the brunt – with an exception of few grocery based aggregator, healthcare and essential based aggregators.

While Media industry is ruing low or no advertisment revenue for its print, television and digital functioning – other non-essential industries ie. Air conditioner manufacturers are complaining of 0% sale even after onset of summer. Several sources have reported layoffs due to financial constraints and as a part of self saving mechanism . Situation have also become more grim in cities like Noida , home to many garment export houses, where many have reported inability to pay their employees without any export in play. Number of startups being shutdown due to corona , especially bootstrapped ones, which did’nt have enough funds for rainy day are unaccounted for. Information Technology expert from one of the startup told newsfolo – “We can speculate business loss in future to software companies too as most of the clients being serviced are non-IT belonging to non-essential industries, Most of software firms are service based “.

Despite guideline from MHA – allowing Maids/servants with means of bread and butter being through self employed work , Most of the RWAs have been paranoid to not allow them inside in Red Zone.

With days of Lockdown 3.0 end nearing, Government is expected to make leeway for several industries to kickstart the economy again, including continuing their fight against corona virus.

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