COVID-19 PANDEMICS EEFECT ON INDUSTRY – A STUDY

Abstract

This research paper investigates the effect of COVID-19 pandemic on Apparel & Textile Industry and Automotive Industry and also analyses the methodologies adopted by them to overcome the crisis. The study has analysed the impact of COVID -19 on the selected ten different business sectors and its challenges and opportunities along with their performance analysis of pre and post COVID conditions. It is found that the business sectors have emerged drastically well while others go down pathetically. The study also revealed that the technological innovations have not only improve business performance but also help to develop a consumer behavior for “new normal” scenario. Some of the sectors that easily adapt and migrate new technology for smoothen their functions. Technology enables the remote working, online learning, telemedicine services, etc. The study also found that the organizations have invested more on technology upgradations, made tangible improvements in their businesses. COVID 19 pandemic enabled the consumer to embrace latest technology and change in lifestyle to adapt new normal.