We normally associate Mumbai with crowded streets and congested places. But corona virus has forced people to stay indoors and as a result even a city like Mumbai is looking empty. Malls, theatres, pubs are all closed and those restaurants that are open are completely deserted.
People are calm right now but you can feel an uneasy panic because everybody knows in a country like India, if the disease starts spreading it will spread at a very fast rate and controlling it will be very difficult.
If we compare this crisis with Indian economy and Chinese economy, then compared to China our economy will vanish by 90%. So firstly we need to avoid reaching at the stage China is, and for that in the current scenario the government is doing proper steps and precautions.
In these times, just give a thought to all those people especially who are on daily wages, whose livelihood depends on the small business or jobs they have. Small hawkers, security guards, roadside vendors have all taken a hit because people are avoiding going out to prevent themselves getting infected.
If we Compare these vendors or small scale businesses to large scale industry, large scale industries have enough money to survive these losses , (still downfall ratios are increasing) but these small businesses will suffer a lot in these times.
Prof. Nupur Rawal, Assistant Professor & Director, Unitedworld School of Business (UWSB)
Disclaimer: The opinions / views expressed in this article are solely of the author in his / her individual capacity. They do not purport to reflect the opinions and/or views of the College and/or University or its members.