Navigating the road ahead for freight transportation industry in india
24 Dec 2021
COVID-19 effect on business and supply chains
The effect of coronavirus on global businesses has been
devastating. The economic impact of the pandemic is expected to be long-term
and bring a permanent change in the way we do business. India too witnessed a
complete halt on manufacturing for a brief period with supply chain disruptions
and large-scale job loss, reverse migration of the workforce as well as many
MSMEs shutting shop.
The supply shock that started in China in February 2020 and
the consequent demand shock as global economies shut down, exposed
vulnerabilities in supply chains across the world. Further, cross-border trade
restrictions accentuated shortages of pharmaceuticals, critical medical
supplies, food, and other essential products in various geographies during the
peak of the pandemic.
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