Covid-19; the socio-political and economic impact

Late February or the early March of 2019 when all of a sudden, the world came to a standstill. In 21st century, who would have thought that one day the entire world will get inside the home all outdoor activities will stop suddenly all offices and work places will shut shop all markets will suddenly close and the world will come to a standstill. We must have seen such situations in movies but no one might have ever imagined that we had to go through this one day. 

There was clearly no industry that was unaffected by the influence of Covid 19. Observing the pandemic’s impact through the eyes of an Indian citizen, I’ve witnessed far more awful stories than positive ones. Migrant labourers were left jobless as a result of the unexpected shutdown. Migrant workers took to the streets to trek up to their villages, despite the fact that their villages could be hundreds of miles distant. Many elderly folks collapsed on the streets during their forced walkathon. Children cried out in hunger, parents were helpless, and officials pushed them to return home. I mean, there was mayhem everywhere. Recalling such images is really distressing. My heart aches for all the poor migrants, as well as to those who bravely walked hundreds of miles in scorching heat to reach their villages.

Consumers are one of the very few groups of people who have been affected by this. Consumers have had a mixed impact during the pandemic, as people in fear have either purchased too many products or have been unable to afford any. The pandemic has been tough on businesses, as many that existed prior to the pandemic are unable to thrive in as consumers are becoming more conscious of their spending and income and are attempting to reduce their purchases to the minimum.

Small brick-and-mortar stores and local suppliers have been forced to close their doors owing to government regulations, and are now losing money as consumers increasingly rely on e-commerce platforms. Even the trade line has shrunk as a result of supply chain issues, which have resulted in stores receiving less stock on resources and items. Large factories have had to close in order to cut costs by decreasing employment, leaving millions of people without food and shelter and battling to survive in such times.

No one could look away from the images because they were so distressing. The Indian government was suddenly confronted with a slew of problems. As a developing country, we lack the health-care infrastructure that developed countries have. On the one hand, the epidemic had to be stopped from spreading, and on the other, the health system had to be upgraded. We were all unprepared and lacked access to basic essentials such as PPE kits and hand sanitizers. The Indian government acted quickly and implemented a host of measures to deal with the unexpected circumstance. Multiple aid packages were issued for the needy, and significant businesses were enlisted to begin creating oxygen cylinders to help the overburdened hospitals.

Though the pharmaceutical industry has sprung into action all across the world, what stands out is that several Indian pharmaceutical companies have entered right into the race to create the Covid 19 vaccine. The textile sector has managed to build up production of N-95 masks and PPE kits — the first line of defence against Covid-19 — to the point where it is prepared to meet the demand for the second wave, despite an acute scarcity of protective equipment the year before. India had two of the indigenously made vaccines ready by the end of 2020, and Indians began receiving vaccinations in early 2021. As a developing country, it was our resilience that enabled us to meet this enormous task.

With a population of 1.4 billion people, India ranks third in the world in terms of purchasing power parity, making it one of the world’s major importers of products and services. Engineering items, petroleum products, jewels and jewellery, agriculture products, and textiles are among India’s most important exports. Because the country was still reeling from the effects of the pandemic, global trade was severely hampered. This pandemic also impacted countries that rely on India for a large portion of their commodities and services.

Though there is no positive outcome from this pandemic, if I had to pick one, it would be the governments throughout the world who joined together to support one another. This isn’t something we see very often. Aid from the United States, the United Kingdom, Germany, coming to the countries like India, Bangladesh, and Africa was something that could not be overlooked. 

Overall, the pandemic has taught us that nature knows no boundaries, thus it is more necessary than ever for the entire globe to appreciate nature, manage pollution, and be humble enough to be a part of this magnificent world.

By Shreyas Ghosh | DPS International Edge, Gurgaon, India

2 thoughts on “Covid-19; the socio-political and economic impact

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