Covid 19: An Invisible Destroyer of the Economy Paving way to Atmanirbhar Bharat

  • Prajakta R Mantri Department of Management Technology, Shri Ramdeobaba College of Engineering and Management, Nagpur, Maharashtra, India
  • Bhakti Tiwari Department of Management Technology, Shri Ramdeobaba College of Engineering and Management, Nagpur, Maharashtra, India
  • CA Prashant Chhajer Associate Professor, Department of Management Technology, Shri Ramdeobaba College of Engineering and Management, Nagpur, Maharashtra, India https://orcid.org/0000-0001-7754-1946
Keywords: Covid-19, Indian Economy, Sector-Wise Impact, Atmanirbhar, Black Swan, Indian Stock Market

Abstract

The Covid-19 pandemic, that has hit the entire world hard enough to make it shiver, was reported first in the city of Wuhan, China. From first ever official report in December 2019, the virus has rapidly captured the entire world. The impact of which is far more brutal than initially anticipated by all. When the entire world is still fighting the initial hit of Covid-19, the clouds of the virus hitting with its second wave have started to make rounds. Thus, it is crucial to look into the details about how it has affected us so far and take inputs to prepare for the next wave, if it is inevitable. The article is an insight on the impact of novel coronavirus on Indian Economy. During the course of the article, we have discussed about India’s role in global supply chain, its dependence on China and to certain extent the role of China in global trade while covering the sectors that are severely impacted and others that are striving to create an opportunity from this pandemic. We incorporated the expectations of the major players in the Indian market and opinions from around the globe on this pandemic. The Atmanirbhar Campaign launched by the Indian Government as an initiative to make India self-reliant in the post covid-19 period, is covered towards the end.

Published
2020-10-01
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