Introduction

The coronavirus epidemic has had a significant influence on India's economic activities and the loss
of human life. With a few exceptions, almost all industries have been negatively impacted as
domestic demand and exports have dramatically decreased, with few notable outliers where
substantial growth has been witnessed. An attempt is made to assess the effectiveness and potential
remedies for a few significant industries.

Food & Agriculture

Because agriculture is the country's backbone and is included in the government's important
category, the impact on primary agricultural production and agro-input consumption is expected to
be minimal. Several state governments have previously permitted the unrestricted movement of
fruits, vegetables, milk, and other foodstuffs. Uncertain limitations on mobility and the halting of
logistics vehicles significantly influence online food grocery platforms. The actions outlined by the
RBI and the finance minister will benefit the industry and employees in the short term. In the
following weeks, insulating rural food-producing regions will be a fantastic solution to the macro
impact of COVID-19 on the Indian food sector and the broader economy.

Aviation & Tourism

The Aviation Sector and tourism contribute roughly 2.4 percent and 9.2 percent of our GDP,
respectively. In 2018-19, the tourism industry serviced around 43 million people. The first businesses
to be severely impacted by the epidemic were aviation and tourism. COVID, it appears, will have a
more significant impact on these industries than 9/11 and the 2008 financial crisis. Since the
beginning of the epidemic, these two industries have been experiencing severe cash flow problems
and are facing a potential layoff of 38 million people, or 70% of the entire workforce. Both white-
collar and blue-collar occupations will be affected. According to IATO projections, these industries
might lose up to 85 percent of their revenue.

Telecom

Even before the Covid-19, there were substantial changes in India's telecom business as a result of
brief pricing wars between service providers. Due to constraints, most essential services and sectors
were able to continue operating during the epidemic thanks to the establishment of the "work from
home" policy. As of 2019, the telecom sector provides roughly 6.5 percent of GDP and employs
almost 4 million people, with over 1 billion connections. Increased broadband consumption has a
direct influence on the network, putting strain on it. There has been a 10% rise in demand. Telcos, on
the other hand, are bracing for a dramatic reduction in new customer additions. As a piece of policy
advice, the government may help the industry by reducing regulatory compliances and lowering the
cost of doing business.

Pharmaceuticals

Since the onset of the Covid-19 epidemic, the pharmaceutical sector has been on the increase,
particularly in India, the world's largest producer of generic pharmaceuticals. It has been booming in
India, exporting Hydroxychloroquine around the globe, especially to the US, UK, Canada, and the
Middle East, with market size of $55 billion by the start of 2020.

Oil and Gas

The Indian oil and gas business is essential in the global perspective; it is the world's third-largest
energy user, after only the United States and China, and accounts for 5.2 percent of global oil
consumption. The nationwide lockdown reduced demand for transportation fuels (which represent
for two-thirds of total demand in the oil and gas sector), as car and industrial manufacture
plummeted, and commodities and passenger mobility (both bulk and personal) fell. Despite the fact
that crude prices fell during this time, the government increased excise and special excise tax to
compensate for the income loss, as well as the road cess. To increase demand, the government may
consider passing on the advantages of lower crude prices to end consumers via retail outlets as a
policy proposal.

Beyond Covid: The new normal

Given the magnitude of the pandemic's disruption, it is clear that the present slump is fundamentally
different from previous recessions. The business environment will be altered by the unexpected
drop in demand and greater unemployment. Businesses will be able to take a new road in this
unpredictable climate by adopting new ideas such as "move toward localization, cash conservation,
supply chain resilience, and innovation."

The Impacts of COVID-19 on China's

In the present climate of escalating trade protectionism, a thorough knowledge of COVID-19's effects
on the economy and energy is critical for China's ability to react with external shocks in an
unpredictable environment and boost economic resilience. This research evaluates the
consequences of COVID-19 on China's macro-economy and energy consumption in the context of
trade protectionism by building an integrated economic and energy input-output model that
includes the COVID-19 shock. The following are the outcomes.

First, in the context of protectionism, the outbreak of COVID-19 in China would result in a 2.2-3.09
percent drop in GDP and a 1.56-2.48 percent drop in power consumption, while detrimental indirect
effects from COVID-19's global spread would result in a 2.27-3.28 percent drop in GDP and a 2.48-
3.49 percent drop in power consumption.

Second, the negative effects of a domestic outbreak on China's construction, non-metallic mineral
products, and services would be 1.29 percent higher on average than other industries, while the
global spread of COVID-19 would have a 1.23 percent higher impact on export-oriented industries
like textiles and wearing apparel. Third, the impact of the pandemic's two waves on China's fossil
energy consumption would be 1.44 percent and 0.93 percent greater, respectively, than non-fossil
energy use.

China's economy grew at the slowest pace in more than four decades last year, official figures show,
but remains on course to be the only major economy to have expanded in 2020.

Despite Covid-19 shutdowns caused a drop in output in early 2020, the economy increased by 2.3
percent last year. The recovery of the economy was aided by strict virus control measures and
corporate emergency assistance. The third quarter of the year saw a 6.5 percent increase in growth.

"The economy has practically returned to normal, according to GDP figures. Although the current
Covid-19 epidemic in a few areas in northern China may cause temporary fluctuations, this trend will
continue "Yue Su, the Economist Intelligence Unit's lead economist, said as much.

According to a Reuters survey, China's mainland stock markets and Hong Kong's Hang Seng both saw
moderate advances on the new statistics, which beat experts' predictions.
Covid-19, on the other hand, was still a severe drag on GDP in 2020, with the widespread factory and
industrial facility closures slowing economic growth to its worst rate in four decades.

China's manufacturing sector looks to be on the mend, with industrial output up 7.3 percent
according to figures released on Monday.

Exports have also been a driving force. Chinese exports climbed more than expected in December,
according to data released last week, as coronavirus outbreaks throughout the world fuelled
demand for Chinese goods.

Despite a higher yuan, which makes Chinese goods more costly for foreign purchasers, this is the
case.