Connect with us

Daily News

Coronavirus Impact: 73% Businesses Report Big Reduction In Orders, Says FICCI

About 53 percent of Indian businesses say the Coronavirus pandemic has impacted their business operations even from the early stages. Almost three-fourth (73 percent) of the businesses in a FICCI survey indicate big reductions in orders. Of these, almost 50 percent indicate over 20 percent decrease in the orders.

The survey was conducted among FICCI member companies and associations between March 15-19 among a total of 317 companies. Of these, 35 percent of respondents indicate an increase in inventory levels, while another 50 percent point that their inventory levels have risen by 15 percent and more.

Overall, 20 percent said that they were ‘very highly’ impacted, 33 percent ‘highly’ and another 33 percent companies were ‘moderately’ affected.

The Covid-19 pandemic also impacted the cash flow at organisations with almost 80 percent reporting a decrease in cash flow. A fall of 20 percent or more in cash flow was reported by more than 40 percent respondents. About 63 percent said their supply chains were affected, and that they are closely monitoring the situation and expect the impact of the pandemic on supply chain to worsen further. While 47.3 percent said they are experiencing less than 4 weeks delay in sourcing raw materials, 31.08 percent companies face delay in sourcing by 4-6 weeks. For 14.86 percent, the delay is 6-8 weeks and for 6.76 percent, the sourcing delay is over 8 weeks.

The survey also says almost 40 percent firms have put in place stringent checks on people entering their offices and disinfection. Nearly 30 percent organisations have already put in place Work-from-Home policies for their employees. Almost four-fifth of the respondents feel that the situation would come under control by six-months.

—Business Today

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!