Sectors that depend on people’s behavior would take the longest time to recover after the end of the lockdown period, while those curbed by the government to contain the spread of coronavirus are set for a bounce-back immediately after the restrictions are removed, say experts.
Pharma, medical and health equipment and digital companies are among those which have seen a jump in their business following the COVID-19 pandemic, they said.
Former Telecom and IT Secretary, R Chandrashekhar says the companies connected with digital world and providing services which enable digital – entertainment, work and office system, among others, and logistics supply chain would do well.
“I think to some extent, there is pent-up demand for essentials, and that will also bounce back,” he said.
An industry official said sectors like transportation, storage, warehousing would come back quickly once the lock-down is lifted, and those which would not bounce back anytime soon, are those which depend on people’s behavior like travel, staying in hotels, flying overseas and going to shopping malls, for example.
Post-lockdown, a senior executive in a corporate firm said, e-commerce and home delivery, both by normal retail and by e-commerce companies, would see further uptick.
“Hotel and travel, for example, will take time to come back,” the executive said. “People will not like to travel unnecessarily, they will not like to stay in hotels, who knows who stayed there earlier. Tourism will take long, long time to come back. Those activities will come down dramatically.”
Mr Chandrashekhar, also former Telecom Commission Chairman and ex-President, NASSCOM, told PTI: “People don’t want to take risks. Those which are affected due to human behaviour will take the longest time to recover, those which are curbed by the government order alone will immediately bounce back (once lockdown is lifted).”
ASSOCHAM Secretary General Deepak Sood said the country’s entire health and medical infrastructure should be massively ramped up, adding, the entire value chain would need much larger commitment and resources.
“Likewise, the pharmaceutical industry which has established its presence all across the world would need to fill in the gaps of API (Active Pharmaceutical Ingredients) towards achieving self-sufficiency in the medium term,” Mr Sood said.