It is true that the impact of COVID-19 impact on India Inc in FY2020 was only for a few days – the last two weeks of March. But many would agree that the Indian economy was already in trouble and COVID-19 only exposed the fault lines.
The current pandemic has brought hard economic challenges, forcing many workers and equipment to be idle. Unfortunately, this could have long-term effects months or years after markets open up. Industries must do what they can now to make the most of this difficult situation and retain value where possible. An important key is to protect idle assets from corrosion, so equipment is ready to start up quickly when workers come back on the job.