Document Type : Research Article
Authors
1 Assistant Professor, Andhra Loyola Institute of Engineering and Technology, Vijayawada, Andhra Pradesh, India.
2 Associate Professor, Andhra Loyola Institute of Engineering and Technology, Vijayawada, Andhra Pradesh, India
3 Assistant Professor, RK College of Engineering, Vijayawada, Andhra Pradesh, India.
Abstract
This paper demonstrates the impact of lockdown in Indian economy particularly on automobile sector. The outcome proves that depending on the period of the lockdown, the Indian economy expected to face a loss of about 10-31% of its Gross Domestic Product and production loss is estimated on automobile sector is Rs 2300 crore per day. This study discusses the impact of covid-19 on economy, particularly on automotive sector. This is a secondary research work wherein aim is to study the potential impact of the novel covid-19 on automotive sector. The methodology adopted includes in-depth review and analysis of various reputed published journals, research works, articles, news paper reports and web sources. The study concludes that impact of corona virus is long term and adverse. It is the turn of Indian automotive industry to grab opportunities and flourish.
Keywords
Main Subjects
- Ajay Kumar Poddar & Brijendra Singh Yadav (2020). Impact of covid-19 on Indian economy-A review. Journal of Humanities and Social Sciences Research, 2(S), 15-22
- Abiad,A., Arao, R.M., Dagli,S. (2020).The economic impact of the covid-19 outbreak on developing Asia, 2020, https://doi.org/10.22617/BRF200096
- Baldwin, R., Tomiura, E (2020).Thinking ahead about the trade impact of covid-19, Economics in the time of covid-19
- Baker, S., Bloom, N., Davis, S. J., Kost, K., Sammon, M., &Viratyosin, T. (2020).The unprecedented stock market reaction to covid-19. Covid Economics: Vetted and real-time papers, 1(3)
- Dev, S. M., & Sengupta, R. (2020). Covid-19: Impact on the Indian economy (No. 2020-013). Indira Gandhi Institute of Development Research, Mumbai, India
- file:///C:/Users/User/Downloads/gx-COVID-19-Impact-Automotive-Sector.pdf
- https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/M%20and%20A/Our%20insights/Indias%20post%20COVID%2019%20economic%20recovery%20The%20M%20a
- https://www.thequint.com/tech-and-auto/car-and-bike/auto-sector-on-recovery-post-lockdown-detailed-report-passenger-vehicle-pre-owned-cars-and-two-wheelers#read-more
- Kishore Kumar Das & Shalini Patnaik (2020). The impact of covi-19 in Indian economy-an empirical study. International Journal of Electrical Engineering and Technology, 11(3), 194-202
- McKibbin, W., Fernando, R. (2020). The economic impact of covid-19. Economics in the Time of covid-19, 45
- Narayana, Sudha (2020). Food and agriculture during a pandemic: Managing the consequence. https:// www.ideasforindia.in/topics/agriculture/food-and-agriculture-during-a-pandemic-managing-theconsequences.html
- Pankaj Chaudhary (2020). Impact of covid pandemic on Indian Automobile Industry. https://www.researchgate.net/publication/341344212_Impact_of_Covid_Pandemic_on_Indian_Automobile_Industry/link/5ebbbf7b458515626ca5aaa7/download
- Pravakar Sahoo & Ashwani (2020). Covid-19 and Indian economy: impact on growth, manufacturing, trade and MSME Sector. Global Business Review, 21(5), 1159-1183
- Ray, Debraj & Subramanian,S (2020). India’s lockdown: An interim report. Working paper series, National Bureau of Economic Research (NBER), No. 27282, May 2020
- Srivastava,P., (2020). Potential impact of novel covid-19 in Indian economy. International Journal of Advanced Research, 8(05), 711-716
- Sengupta, Rajeswari and Harsh Vardhan (2020a). The pandemic and the package. Ideas for India, 4 June. https://www.ideasforindia.in/topics/macroeconomics/the-pandemic-and-the-package.html
- Sengupta, Rajeswari and Harsh Vardhan (2020b). Policymaking at a time of high risk-aversion. Ideas for India, 6 April. https://www.ideasforindia.in/topics/money-finance/policymaking-at-a-time-of-high-risk-aversion.html
- Sengupta, R (2020). Covid-19: Macroeconomic implications for India. Ideas for India, 24March.https://www.ideasforindia.in/topics/macroeconomics/covid-19-macroeconomic-implications-for-india.html
- Tejal Kanitkar (2020). The covid-19 lockdown in India: Impacts on the economy and the power sector. Global transitions, 2, 150-156