COVID-19 & Business Resumption Plan
Major impact on the economy for a longer period of time than originally anticipated
The ongoing pandemic is one of the biggest threats to an already under pressure retail vertical around the world. At the end of last year, world monitory bodies were predicting a gradual global economic slowdown, but this pandemic applied sudden brakes and the world economy has come to a screeching halt.
According to a recent report by Retailers Association of India, around 25 percent of retailers would require a serious infusion of capital, to help them deal with the impact of the 21-day nationwide lockdown imposed to check the spread of coronavirus disease (COVID-19), else they would be out of business.
Since we started writing this paper, the lockdown in India has been extended by another 3 weeks. It has become clear that these are extraordinary circumstances, that would have a major impact on the economy for a longer period of time than originally anticipated..