Manufacturing The New Normal

The pandemic has changed the mindset and perspective towards work, life & beyond. Read on to know how manufacturers are dealing with the pandemic, disruption and the new normal.

- Swati Deshpande

COVID-19 has shaken the whole world. There is no country, economy or industry that is not affected Describing this adversity, Deepak Pahwa, Chairman & Managing Director, Bry-Air says, “The world economy is in shambles and will take some time to recover. According to reports, China’s GDP that is approx. 19.7% of total global GDP, will decelerate by 1–1.25 percentage points over 2020 because. Which means the estimated loss, the global GDP will suffer will be somewhere between 0.5– percentage point. Here, the economy was already at a downturn, and thus, may take longer to recover.”

VDMA India had conducted a survey about a month back, which suggests that 91% of the companies anticipate an overall loss of revenue in 2020. Almost 34% of the respondents predict the loss of revenue would range between 20-30%.

91% COMPANIES ANTICIPATE AN OVERALL LOSS OF REVENUE.

Having said this, essential services are still running and some of them are also experiencing higher demand. This is due to people being confined to their homes, which has led to increased consumption. On this backdrop,