37.5 C
Delhi
Friday, September 18, 2020

Restaurants, Auto and Realty sector will take 1 to 2 years to revive

- Advertisement -

Restaurants, Auto and Realty sector will take 1 to 2 years to reviveNew Delhi, April 10 (IANS) As the coronavirus crisis and subvsequent nationwide lockdown severely impact the Indian economy, a FICCI survey has said that few sectors like restaurants, auto and real estate may take around 12 to 24 months to recover.

The other sectors also severely hit may require similar period to revive, including transportation and tourism, logistics, entertainment and consumer durables.

The survey titled ”COVID-19 India: Economic Impact & Mitigation”, however, said that recovery is dependent on consumption stimulus and survival of businesses itself.

It said that sectors such as apparel and beauty product, beverages, alcoholic beverages, insurance, agriculture, chemicals, metals and mining, services, industries, offline retail, and healthcare are likely to recover in 9-12 months.

In its report, the industry body has said that the Indian industry requires an immediate stimulus package of Rs 9-10 lakh crore, which would account for 4-5 per cent of the country”s GDP.

The report noted that other countries have also taken similar steps. The debt-to-GDP ratio of India is manageable, it added.

“This money to be injected for relief and rehabilitation across all levels of the economy, including people at the bottom of the pyramid, informal workers, micro, small and medium enterprises, and large corporates,” it said.

The industry body has also suggested setting up of a ”Bharat Self-Sufficiency Fund” with an outlay of Rs 2 lakh crore. It said that the fund could be used to promote scientific research and innovation for building a stronger and resilient nation and creating self-sufficient industry clusters with fully developed value chains within the country for products where India has high import dependence.

The report also noted that services such as food retail, telecommunications, utility services and pharmaceuticals have witnessed a boost in the short term and would stabilize in the long term, in about 6-9 months.

Further, online healthcare, personal care, online entertainment and education have also received a boost during the restrictions and lockdown and would keep growth momentum in the long term.

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Kia Motors India launches its first-ever compact SUV ‘Sonet’

New Delhi, Sep 18 (IANS) Automobile manufacturer Kia Motors India on Friday launched its first-ever compact SUV "Sonet" in India.According to the company, the...

Rapid 90-minute Covid-19 test shown to be highly accurate

London, Sep 18 (IANS) Researchers have created a 90-minute high speed Covid-19 test which does not require a laboratory and can be performed in...

Sushant case: Forensic re-examination hints at discrepancies

New Delhi, Sep 17 (IANS) The 'medico legal opinion' of forensic experts, which holds the key to unravelling the mystery shrouding the death of...

Bullet train project to create more than 90,000 direct, indirect jobs

New Delhi, Sep 17 (IANS) Prime Minister Narendra Modi’s ambitious 508-km Mumbai-Ahmedabad high speed rail project, popularly known as ‘bullet train project’, will create more than...

Many engaged in confusing farmers, says PM Modi

New Delhi, Sep 18 (IANS) Amid the row over three agriculture reform bills that led to one of his Cabinet colleagues quitting on Thursday,...

Cracks appear in opposition on LAC issue

New Delhi, Sep 18 (IANS) The government and the opposition are at loggerheads on tensions with China on the LAC as the opposition wants...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Covid vaccine to be available by ‘start of next year’: Harsh Vardhan

New Delhi, Sep 17 (IANS) Union Health Minister Harsh Vardhan on Thursday said that the coronavirus vaccine will be made available in the country...

Covid vaccine to be available by ‘start of next year’: Harsh Vardhan

New Delhi, Sep 17 (IANS) Union Health Minister Harsh Vardhan on Thursday said that the coronavirus vaccine will be made available in the country...

Russia to supply 100 million doses of Sputnik V vaccine to Dr Reddy’s

New Delhi, Sep 16 (IANS) The Russian Direct Investment Fund (RDIF) and Dr Reddy's Laboratories Limited, a global pharmaceutical company headquartered in India, have...

Serum Institute of India gets DCGI nod to resume clinical trial

By Payal Banerjee, (PTI) Drugs Controller General of India (DCGI) Dr V G Somani on Tuesday gave permission to Serum Institute of India to...

SAI revises SOPs for resumption of sporting activities

New Delhi, Sep 16 (IANS) The Sports Authority of India (SAI) on Tuesday announced updated Standard Operating Procedures (SOPs) for resumption of sporting activities...

Insurance scheme for frontline health workers extended for 6 months

New Delhi, Sep 15 (PTI) The Rs 50-lakh insurance cover to frontline health workers fighting COVID-19 has been extended for six months and till date,...

Trending News In India

Rapid 90-minute Covid-19 test shown to be highly accurate

London, Sep 18 (IANS) Researchers have created a 90-minute high speed Covid-19 test which does not require a laboratory and can be performed in...

Rapid 90-minute Covid-19 test shown to be highly accurate

London, Sep 18 (IANS) Researchers have created a 90-minute high speed Covid-19 test which does not require a laboratory and can be performed in...

Sushant case: Forensic re-examination hints at discrepancies

New Delhi, Sep 17 (IANS) The 'medico legal opinion' of forensic experts, which holds the key to unravelling the mystery shrouding the death of...

Bullet train project to create more than 90,000 direct, indirect jobs

New Delhi, Sep 17 (IANS) Prime Minister Narendra Modi’s ambitious 508-km Mumbai-Ahmedabad high speed rail project, popularly known as ‘bullet train project’, will create more than...

Many engaged in confusing farmers, says PM Modi

New Delhi, Sep 18 (IANS) Amid the row over three agriculture reform bills that led to one of his Cabinet colleagues quitting on Thursday,...

CBI case against software companies for sending pop-up messages

New Delhi, Sep 18 (IANS) The CBI on Thursday said that it has registered a case against several companies for transmitting pop-ups to the...

Trending Showbiz

Sushant case: Forensic re-examination hints at discrepancies

New Delhi, Sep 17 (IANS) The 'medico legal opinion' of forensic experts, which holds the key to unravelling the mystery shrouding the death of...

Gulshan Devaiah: Depression is used as an expression

New Delhi, Sep 17 (IANS) Actor Gulshan Devaiah says the problem with accepting depression as a disease is that a lot of people consider...

Namit Das makes debut as screenwriter with the short film “Tape”

Mumbai, Sep 16 (IANS) Actor Namit Das has made his debut as a screenwriter now, after showcasing his talent as a singer in the...

Seven Indian films at Busan 2020, ‘Bittersweet’ an official selection

New Delhi, Sep 15 (IANS) The Ananth Narayan Mahadevan directorial, Bittersweet, has been nominated for the Jiseok Award at the Busan International Film Festival...

Sara, Rakul, Simone’s names crop up in NCB probe

Mumbai, Sep 14 (IANS) In a significant development, the names of Bollywood celebrities like Sara Ali Khan, Rakul Preet Singh and Simone Khambatta have...

Nitin Tej Ahuja appointed CEO of Producers Guild of India

Mumbai, Sep 14 (IANS) Industry veteran Nitin Tej Ahuja has been appointed the Chief Executive Officer of the Producers Guild of India (PGI)."As a...

Trending Sports

We all have accepted the situation around us, says Virat Kohli

Kolkata, Sep 18 (IANS) Royal Challengers Bangalore (RCB) skipper Virat Kohli on Thursday said players have made peace with life in a bio-secure bubble...

Online application, registration for hockey players planned

New Delhi, Sep 17 (IANS) Hockey India is planning to introduce an open application and registration process for players on its Hockey India Member...

Placing older players on the field Dhoni’s biggest challenge: Bangar

New Delhi, Sep 16 (IANS) MS Dhoni's biggest challenge would be how he handles the older players in the Chennai Super Kings squad in...

Badminton should learn from tennis and resume play: U Vimal Kumar

New Delhi, Sep 17 (IANS) The badminton fraternity should take a leaf out of what other sports like tennis have done to restart competitions...

IPL 13 promises to bring joy to the fans, feels Virender Sehwag

Mumbai, Sep 16 (IANS) Former Indian opener Virender Sehwag feels the upcoming edition of the Indian Premier League (IPL), which will be played in...

SAI revises SOPs for resumption of sporting activities

New Delhi, Sep 16 (IANS) The Sports Authority of India (SAI) on Tuesday announced updated Standard Operating Procedures (SOPs) for resumption of sporting activities...

Latest Trending News In India

Kia Motors India launches its first-ever compact SUV ‘Sonet’

New Delhi, Sep 18 (IANS) Automobile manufacturer Kia Motors India on Friday launched its first-ever compact SUV "Sonet" in India.According to the company, the...

Rapid 90-minute Covid-19 test shown to be highly accurate

London, Sep 18 (IANS) Researchers have created a 90-minute high speed Covid-19 test which does not require a laboratory and can be performed in...

Sushant case: Forensic re-examination hints at discrepancies

New Delhi, Sep 17 (IANS) The 'medico legal opinion' of forensic experts, which holds the key to unravelling the mystery shrouding the death of...

Bullet train project to create more than 90,000 direct, indirect jobs

New Delhi, Sep 17 (IANS) Prime Minister Narendra Modi’s ambitious 508-km Mumbai-Ahmedabad high speed rail project, popularly known as ‘bullet train project’, will create more than...

Many engaged in confusing farmers, says PM Modi

New Delhi, Sep 18 (IANS) Amid the row over three agriculture reform bills that led to one of his Cabinet colleagues quitting on Thursday,...