Covid vaccine boost for travel and retail sectors | India Business News

2020-12-28 01:42:52

NEW DELHI: After receiving a debilitating shock treatment at the hands of Covid, several industries in India across retail, FMCG and automobile are set to get back on their feet in 2021.
Sectors like entertainment, travel and retail are expected to receive a boost once public confidence in vaccines kick in.
Most retailers said they have recovered 70-80% of pre-Covid annual sales on the back of a bullish festive season. “A lot, however, will depend on further lockdowns due to the new strain of the virus,” said Rajat Wahi, partner at Deloitte India.
Coronavirus outbreak: Live updates
The auto sector, too, is expected to rebound by mid next year, after facing the longest slowdown in two decades. New model launches, replacement demand and a supportive financing environment are expected to drive growth, according to Morgan Stanley.
FMCG displayed strong signs of recovery in the third quarter of 2020 with a 1.6% growth (versus Q3 of previous year), after an unprecedented decline of -19% in January-March. “There may be less money in consumers’ hands, which may impact discretionary spending,” said Arvind Singhal, founder, Technopak.

Source link

Leave a Reply