The year 2020 is one which none of us can ever forget. With the world facing the wrath of a pandemic each one of us is trying to adapt to the ‘new normal’. The number of cases is rising and economies all across the globe are preparing themselves to meet casualties. Though it is a tough time for everyone, the lockdown has made it possible for us to reconnect with ourselves and our loved ones. The work by companies have already been shifted to work from home and it is expected that this will become the new work culture.

The world is changing and now is the time when every individual, company and the country should try to figure out ways to reinvent themselves. The acceptance of the new normal is the key to development. So this is the time when opportunities should be identified and changes be made as and when required. From this point in time, stop looking at the past and start working on plans for the future. 

But before we start talking about the underlying lessons by the pandemic for us, let’s try to first understand the challenges that COVID-19 has posed to India. Read the article further to know better.

Social impact

The impact of the pandemic on the marginalised sections, women and children have been major in India. Since lockdown was introduced without any prior notice it affected the poor and the migrant workers. For some workers it took months to reach their villages causing them major discomfort while others met with accidents and died causing a major uproar among people. In addition to this many people lost their jobs and started facing a cash crunch which further affected their social life. The concerns regarding mental health specifically anxiety and depression have increased as this is said to be a tough time for people. There were cases of racism against the North-Eastern people too that were reported in India. All these incidents have affected the life of the people in ways that have made us relook at how we look at the society in general.

Economic impact

The economy is struggling to remain afloat and on a daily basis a number of policies are being discussed to revive the economy once the situation becomes better. Currently it is expected that in the present year a contraction in GDP will be observed which means that people will be left with lesser income in hand than they had in the year 2019-2020. Due to reduced income, the demand has decreased. To face this challenge various rate cuts are being introduced at the Reserve Bank of India. A fall in almost every sector is expected except the agriculture and government sector and since the contribution of these two sectors is major in the economy, the situation is bound to get better. The level of contraction across regions and sectors is going to differ.

Impact on Supply Chain

The supply chain has been the talk of the town since the Prime Minister Narendra Modi highlighted the importance of becoming self-sufficient. Due to the lockdown, production had come to a standstill. Since most of the companies were producing Just In Time, they were unable to provide products when needed. Therefore now it is important for companies to revamp their supply chain. There are many companies who are planning to reduce their dependence on manual labour and go in for automation. Also efforts are being made to reduce the number of touch-points that a product goes through.

Impact on education

About a year back, online education was not considered a preferred mode of learning by many. But pandemic has completely turned the table as now most of the educational institutions are going for a virtual model of teaching. There is no denying the fact that the virtual mode lacks personal touch and face to face interaction possible in a brick and mortar system, but still it is serving as a great substitute by helping students remain in touch with their studies. The early morning Zoom classes have become extremely common for students but the only issue currently being faced is the internet connectivity.

Impact on healthcare

Pandemic has made the world realize the importance of good healthcare infrastructure in the country. During this tough time the private sector has come forward to support and provide the government with testing kids, isolation wards and beds. In addition to this, the demand for medical devices is also increasing in the country and the private sector has taken up the responsibility for providing these too. Efforts are being made by the government to strengthen the healthcare infrastructure in the country. 

Lessons by COVID-19 

Though there are a number of challenges being faced by the economies due to the pandemic. But we should not ignore the fact that COVID-19 has taught us a number of lessons. Let us walk you through those.

• The pandemic has made us realize the importance of family and loved ones. During the lockdown every individual got the time to take a break from their hectic schedules and allocate time to things that are more important. The pandemic even taught us that things should not be taken for granted and an individual should always be prepared to meet uncertainties.
• Every individual is presently confined within the four walls of their homes. The freedom which they had earlier is now gone, making them realize how important Freedom actually is for existence.
• COVID-19 has actually united the world wherein every country has joined in to fight and defeat the pandemic. Every country has accepted the fact that they cannot fight the pandemic alone and they need cooperation from the world economies. The interdependence between the economies have increased and this is a positive sign.
• The last financial crisis was in the year 2008 and it gave birth to some really prominent startups like Uber, Airbnb, Pinterest etc. The pandemic has opened up opportunities to work on their skills as well as their business ideas which can prove fruitful to the future generations.
• Finally the pandemic has made us realize how crucial cleanliness and an efficient healthcare system is for a country. People in India have started taking precautions to avoid the spread of virus and even following rules as stated by the government. In addition to this, the pandemic has given a push to the Swachh Bharat Abhiyan which had lost its momentum in the past few years.

Yes, the pandemic is cause of concern for all people but it is important to learn from it. There are multiple negatives but there are positives too which should be identified and should be worked upon at the earliest to earn maximum benefits.

Catching up on everything pandemic? Here are some more reads that might catch your attention:

• The new innovation of COVID-19 masks for doctors will surprise you! - By Katha Roy from GNIT Kolkata
• Will Uber and Ola survive COVID-19? A closer look at ride-sharing service in the light of pandemic
• Work from home can now mean work from vacation!