So now the world is on the same page. Many developed countries are also under severe stress due to the increasing devastation of the epidemic. India is not a developed country but has strong trade sides. But even that cannot be stabilized now.
So far there has been a huge trade deficit and over time more is happening and the situation is not improving. The losses are high as India has gained its foothold in the trade market through air and Sea Cargo and has caused economic losses. In most countries, aid packages are being announced to exporters to prevent major accidents.
At present, India is not doing this but the situation would not be under control if things did not need to be brought under control. The initial confusion of cases due to the already ongoing epidemic has further aggravated the situation and the country has a lot to do with the erection problem. No one knows when all this will end or have a lasting impact on the economy. But nations are exploring ways to prepare for the future.
Most countries and especially developed countries outsource their work in the form of writing for their website or call centre jobs. There is a high rate of such work in India. The problem with lockdowns is that office work is closed all over the world and our outsourcing suffers a lot in this way.
Ship freight and Send Cargo from UK to India though isn’t a hard task but in such situation it seems like near to impossible. How can trusted companies in the workplace work when they are not working? This has led to serious job losses and is causing more and more problems.
Even after a lockdown, when companies don’t have much business, they cut costs. In such a case competition will increase, but the situation will be the same. If there is no money to give employment there should be less of them. When there is a staff reorganization, a lot of people will hurt the economy again.
In such a situation, the burden of those who support it falls on the government. Many people in the country are already below the poverty line, so how will the government bear that extra burden for a long time.
The current account deficit is said to be reduced by 0.2% due to lower demand, lower oil prices and interruptions related to COVID-19. This may be a negative thing for the people on the one hand but then the country will be in a better position.
The thought loss is minimal in general terms. It may or may not happen. As in the present circumstances, can no one say what will happen after all this is done or will it end at all?
But one should expect to do the best but not be stubborn to do the best. It’s also good to be ready for the worst.