Covid-19 and its Global Impact on Various Sectors

GRD Journals- Global Research and Development Journal for Engineering | Volume 6 | Issue 2 | January 2021 ISSN- 2455-5703

Covid-19 and its Global Impact on Various Sectors S. Kannadhasan Assistant Professor Department of Electronics and Communication Engineering Cheran College of Engineering, Karur, Tamilnadu, India

Dr. R. Nagarajan Professor Department of Electrical and Electronics Engineering Gnanamani College of Technology, Tamlinadu, India

R. Guruprasath Assistant Professor Department of Electronics and Communication Engineering Gnanamani College of Technology, Tamlinadu, India

G. Srividhya Research Scholar Department of Electrical and Electronics Engineering Gnanamani College of Technology, Tamlinadu, India

Abstract The World Health Organisation (WHO) has confirmed that the latest epidemic of coronavirus is an international public health emergency, officials stated on Thursday, 30 January, 2020 India reported 3,44,407 positive cases, 9,921 people died and 1,80,460 COVID 19 recovered. The advent worldwide of the Covid-19 pandemic has devastated the political, social, educational, religious and financial structures of the planet.

Keywords- Covid-19, Medical Area, WHO, Coronavirus' Business Impact

I. INTRODUCTION China's closure also barred the import of different products that concern both Indian automobiles and the automobile product industry. The influence would depend on the degree of their agreement with China. However, present inventory levels appear to be ideal for the Indian industry. If the shutdown in China lasts, an 8-10% decline in Indian car production is projected in 2020. The extent of the economic effects would rely on the length and intensity of the health problem, the duration of the lockout, and the way the situation evolves after the lockdown is removed.

In the battery supply chain, China is influential since it accounts for about three-quarters of battery production power.

Corona virus & its consequences for various industries. The influence would depend on the degree of their agreement with China.

China's closure also barred the import of different products that concern both Indian automobiles and the automobile product industry. However, present inventory levels appear to be ideal for the Indian industry. If the shutdown occurs in China, an 8-10 percent downturn in Indian automotive production is anticipated by 2020.

Since an unprecedented circumstance produced by the Corona virus attack, governments have swung into motion. In FY19, India imported about Rs 24,900 crore of bulk drugs, reflecting approximately 40 percent of total domestic intake. With India's API imports from China representing approximately 70 per cent of its demand intake, supply disruptions and sudden price movements are at risk for importers.

II. INDUSTRY SECTOR China is a major supplier of specialty chemicals for textiles, especially Indigo, which is needed for denim. In India, the firm is likely to be hurt, and citizens are ensuring their supplies. However, this is also an advantage, since both the US and the EU will begin to diversify their markets and reduce China's difficulties. For both the final goods and the raw materials used in the electronics industry, China is a significant source. India's electronics industry is worried regarding market delays, capacity cuts, commodity price impacts owing to strong dependency on supply-directly and indirectly-and local electronics manufacturing components.

Modules account for around 60 percent of a solar plant's total expense. Chinese firms control the Indian solar panel industry, selling, considering their competitive price, nearly 80 percent of the solar cells and modules used here. Because of the epidemic, Indian developers have been told by Chinese vendors regarding delays in development, quality control and transport of components. As a consequence, Indian developers have started to face a scarcity of solar panels/cells and small supplies of required raw materials.

III. INFORMATION TECHNOLOGY IT businesses are largely reliant on workers and are unable to work due to limitations on people's mobility created by issues with lockdown and quarantine. Consequently, they are unable to complete or manufacture the existing ventures in a timely manner and All rights reserved by www.grdjournals.com

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Covid-19 and its Global Impact on Various Sectors (GRDJE/ Volume 6 / Issue 2 / 002)

thus refuse new projects. Moreover, in alternate locations such as Malaysia, Vietnam etc., the multinational consumers for Indian IT companies in China have started to look for other service providers. Due to the coronavirus epidemic, several clothing or apparel factories in China have suspended activities, adversely impacting exports of Indian garments, yarn, and other raw materials. The interruption is likely to slow cotton yarn exports by 50 per cent, which will have a serious effect on India's spinning mills. Textile units may be slowed in allowing annual interest and repayments to financial institutions owing to this stagnation in the movement of commodities and thus revenue, thus defaulting on their dues. This would also adversely affect the demand from cotton farmers, who have already experienced depressed prices and fear that if the China crisis persists unabated, the said price will decline lower.

IV. AGRICULTURAL SECTOR At these tough times, how does Indian agriculture react to the crisis, and how does policy action impact 140 million farm households around the country and therefore affect the economy of a very important developed world country? They analyse the imminent challenges that COVID19 has posed for the agriculture sector and propose mitigation interventions to maintain a stable food system during the crisis. Shortly after the national shutdown was reported, the Indian Finance Minister proclaimed an INR 1.7 trillion package largely to protect the poor parts (including farmers) from the adverse effects of the Corona pandemic. The announcement contained, among a number of incentives, the advance release of INR 2000 to farmers' bank accounts as income support under the PM-KISAN scheme. The government has also raised the wage rate for jobs employed under the NREGS, the world's biggest pay incentive system. Under the special scheme to take care of the deprived people, Pradhan Mantri Garib Kalyan Yojana (Prime Minister's Scheme for the Protection of the Poor) was declared. Additional grain allocations have also been declared for the next three months for enrolled beneficiaries. Cash and food relief to casual staff, mainly refugees, for whom a different PMCARES has also been declared.

Relevant steps targeting the 'debt service strain' triggered by the COVID19 pandemic have also been reported by the Reserve Bank of India (RBI). A three-month moratorium (up to 31 August) was given to banks with a 3% discount on crop interest rates of up to INR 300,000 for borrowers with good repayment behaviour on agricultural terms and crop loans. During the lockdown time, the most important task for government machinery is getting food crops, fruit and vegetables and other vital products accessible to customers, both in rural and urban areas. It is of paramount significance that, with sufficient protective measures for the persons concerned, the supply chain works successfully. The transport of commodities by rail and road to lastmile supply agents of the public distribution system (PDS) must be maintained by the respective government departments. It is important to effectively control the delivery of goods to marginalised populations while preserving the specified guidelines and procedures, especially social distancing. The selling of milk products; fish; poultry, etc. was also impaired during the lockdown era as the adoption by integrated business participants was impacted due to a lack of labour and transport problems.

V. IMPACT OTHER SECTOR The poor areas of society are typically the worst affected in any tragedy or pandemic situation. With about 85 per cent of Indian farm households being small and marginal farmers, and a significant portion of the population being landless farm workers, they will definitely be helped by welfare measures to contain any COVID damage. Thus, the government's attention must be on preserving the lives of any person. However, before the economy bounces back, people living in agriculture and related activities, particularly those who lose their income from informal jobs during this lockdown period, need to have alternate avenues (cash transfers) (when this healing happens).

Under the COVID19 pandemic, a health catastrophe of unimaginable magnitude, the greatest share of possible spending budgets would inevitably (and fairly so) be devoted to the health sector. For a long time, structural reforms, such as land leasing, contract farming, and private agricultural markets, etc., have been advocated in order to increase investment and boost growth in the agricultural sector. However, there has been no uniform enforcement of these laws by state governments, and the maximum potential of the sector is still unrealized. This changes require a tremendous amount of political will. Concerns of a slowdown in the excitement of governments, post-COVID scenario, may be resolved with sufficient initiation.

A capacity reduction has already been announced by several international airlines which have Indian operations.

Singapore Airlines, for example, is projected to reduce 96% of its capacity by the end of April. An airline statement said the collapse of demand for air transport culminated in a substantial drop in its sales for travelers. The company is already in talks with aircraft suppliers to postpone potential deliveries of aircraft and, as a result, intends to delay payment for deliveries of these aircraft.

Wage cuts and a cooperative scheme of no paid leave up to those stages of management.

VI. CONCLUSION COVID-19, which is now circulating in India, threatens serious health and livelihood repercussions, and a 21-day national lockdown to limit virus spread has been imposed by the government. In view of the precarious livelihoods of many Indians, cultivation, food management, and safety net policies and programme responses are also urgently required. A historically unrivalled blow to the Indian economy is the Covid-19 pandemic epidemic. The economic consequences of the epidemic of India's corona virus are projected to be around $348 million. A UN report says the world is among the top 15 economies most impacted

by China's manufacturing slowdown.

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Covid-19 and its Global Impact on Various Sectors (GRDJE/ Volume 6 / Issue 2 / 002)

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