Impact of Lockdown and Covid -19 on Indian Industrial Sector: An Analysis

Abstract

Across the globe Covid-19 has created economic hardship for businesses as well as communities and affected the livelihood. Intensive of spread of the corona virus has forced the Indian Government to announce lockdown on March 24, 2020.Indian economy was already struggling with lower growth in Gross Domestic Product (GDP), theCOVID-19 pandemic smashed the Indian industries in an unprecedented and unexpected way. It is the first time in the history that COVID-19 pandemic has influenced industrial demand, supply and availability of workforce in the same time globally. Month’s together lockdown and global slowdown has considerably disrupted demand-supply chain and dented the economy as well as industries deeply. Present lockdown has impacted industrial sector enormously with lessened industrial output and lower profitability. The main objective of this paper is to study and analyze the impact of covid 19 on industrial sector of India and to know how industries are striving to cope up with lockdown and its impact. Genuine effort have made in this paper to analyze the current Industrial sectors situation in India.