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As per the WHO report, the novel coronavirus has spread in 212 regions with more than 1.3 million confirmed cases and more than 80 thousand confirmed deaths. With the virus taking roots in India, the government has announced a nationwide lockdown that appears to extend beyond the intended timeline. The COVID-19 outbreak has stalled economic activity and will cause millions to lose their jobs. This article talks about 3 sectors that have stayed unaffected from the pandemic toll and the reasons behind it.
A thorough examination of the vital signs of the healthcare industry shows that it has virtually remained unaffected by the pandemic toll. This has happened because of three reasons. Firstly, India has a huge supply of active pharmaceutical ingredients that are required to produce the final medicinal product. Secondly, to curb drug shortage the government has committed a whopping sum of Rs. 10,000 crores to encourage the pharma companies to fill their much-needed stockpiles. Thirdly, due to the sudden spike in Corona affected patients – laboratories, clinics, hospitals, and other medical institutions have registered increased footfall.
As per experts, social distancing is the only way to fight against this pandemic toll. Thus, as per the government directive, every company has asked its employees to work from home. As per SBICAP securities, this has come as a boon for the telecom sector as it is expected to boost mobile data and home broadband usage by 10-15%. Also, telecom companies are providing bundled plans that provide more value and ensure customer stickiness.
The pandemic toll is rising with every passing day. And without any vaccine available for its cure, the grim conditions are going to persist for a fairly long time. Though it is a testing time for the whole of humanity, it has turned out to be favorable for the insurance industry. People are worried about their future and are readily buying insurance plans – health insurance, life insurance, term plans, etc. Secondly, IRDAI (Insurance Regulatory Development Authority of India) asked insurers to cover COVID-19 patients and see that their needs are met without any delay.
It is difficult to gauge the real impact of the COVID-19 yet. Governments, scientists, businesses, social activists, etc. are continually trying to fight against the virus. Though most businesses are failing, there are some that are giving it a tough fight. This is because they have a well structured business utility plan and they rely on enterprise technology. At Sage, we are home to world-class ERP and CRM software that helps you run your enterprise like a pro in times of crisis. To know more about it, SMS SAGE to 56767. You can also write to us at email@example.com.
Disclaimer: All the information, views and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views or objectives of Sage Software Solutions (P) Ltd.
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