IMPACT OF CORONAVIRUS ON

SERVICE SECTOR OF INDIAN

ECONOMY
 Deeksha Tiwari
M.COM.4TH SEM.
JIWAJI UNIVERSITY. GWALIOR
TDEEKSHA1806@GMAIL.COM
31MAY2019
 ABSTRACT
• Globally coronavirus has produce an unstable
environment for people. This has spread all over the
world and called as a pandemic by World Health
organization. This has stopped many of economic
activities due to contagious disease and has no
cured till date to fight with corona. It has produced
economic impact on globe and India. It may
produce recession in many part of the world.
As well as coronavirus has more impact on services sector of Indian economy, From call centers to hotels to airlines, India’s key services industries have come to a standstill during the
coronavirus outbreak, dragging the economy into possibly its worst recession on record.
 INTRODECTION
The World Health Organisation (WHO) has declared
that the new coronavirus outbreak is a public health
emergency of international concern, officials
announced on Thursday, 30thJanurary, 2020. WHO
proposed calling the disease “2019-nCoV acute
respiratory disease.”
The 2019 novel corona virus (2019-
nCoV) originating in Wuhan, has
spread to 24 more countries
alarming public health authorities
across the world. More than 4,900
people have died and over 132,000
have been infected globally,
according to the WHO on 13
march, 2020.
Whereas according to Asian Development
Bank (ADB) the Covid-19 outbreak could
cost the Indian economy between $387
million and $29.9 billion in personal
consumption losses. Businesses providing
services of everything from technology to
travel and trade were the first to be hit
when the government took unprecedented
steps to lock down a nation of 1.3 billion
people to stem the pandemic’s spread.
Unlike
 manufacturing-heavy economies like
China and South Korea, in India, the
services sector accounts for 55% of
gross domestic product and the slump
in output has had ripple effects on
jobs and economic growth. At 5.4,
India’s main services index had the
world’s worst reading in April, an
“astonishingly low” figure, said
Priyanka Kishore of Oxford Economics.
“The hit to services might end up
being similar to manufacturing, as
opposed to previous episodes of
demand shocks when services
remained largely unscathed.”The
pandemic poses a challenge for
companies such as Infosys Ltd.
Tata Consultancy Services Ltd., who are
part of India’s $181-billion IT services
industry that builds software and
provides services to some of the
world’s biggest banks and
retailers.While Infosys and smaller rival
Wipro Ltd. refrained from projecting
full-year revenue.
 REFERENCES
• 1.https://economictimes.indiatimes.com/news/politi
cs-and-nation/india-reports-75-coronavirus-cases-
and-1-death/ articleshow/74607818.
2.https://www.thehindubusinessline.com/economy/
trade-impact-of-coronavirus-for-india-estimated-at-
348-mn-unreport/article30988253.ece# 3.
https://www.livemint.com/.
4.https://economictimes.indiatimes.com/news/eco
nomy/indicators/coronavirus-chicken-prices-fall-
poultry-industryaffected/articleshow/74546189.