FICCI has attempted to assess the immediate impact of coronavirus on businesses across the country through conducting interactive sessions and survey amongst the industry members. The survey reveals that besides the direct impact on demand and supply of goods and services, businesses are also facing reduced cash flows due to slowing economic activity which in turn is having an impact on all payments including to those for employees, interest, loan repayments and taxes.
According the survey results, a significant 53% of Indian businesses indicate the marked impact of the Coronavirus pandemic on business operations even at early stages. The pandemic has significantly impacted the cash flow at organisations with almost 80% reporting a decrease in cash flow. The pandemic has had a major impact on the supply chains as more than 60% respondents indicate that their supply chains were affected. The companies also highlighted that they are closely monitoring the situation and expect the impact of the pandemic on supply chain to worsen further.
Organisations have brought in a renewed focus on hygiene aspects concerning the pandemic. Almost 40% have put in place stringent checks on people entering their offices and disinfection. Nearly 30% organisations have already put in place Work-from-Home policies for their employees. Nearly 42% of the respondents feel that it could take upto 3 months for normalcy to return.
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