Reportedly a host of businesses, ranging from airlines to malls to restaurants and IT, will come under pressure from the impact of the spread of the novel coronavirus, a Crisil note has said. "With the World health Organisation declaring the Covid-19 outbreak a pandemic, an unprecedented global disruption is at hand," it said.
The government of india has suspended all extant visas (barring specified exceptions) up to april 15. Such drastic containment measures are being implemented worldwide.Earlier, on february 20, Crisil, had in an impact note1 said india Inc could be in a spot of bother if the pandemic prolongs.
Since then, Covid-19 cases have more than doubled worldwide to over 1.3 lakh, fatalities have surged past 4,000, and the number of countries affected has quadrupled to nearly 114, it added.Consequently, clampdowns are increasing both within and outside india, which would curtail consumer mobility and lead to deferral of spending. But those at the front and centre of the pandemic-driven disruption will be the most impacted.
