COVID Recovery of FMCG Industries - India vs Globe

ABSTRACT

All the countries of the world are facing humanity's biggest crisis since World War II. Almost every country has been affected by the devastating Coronavirus disease (COVID-19). An outbreak from China has gone everywhere. In the last almost year, Corona's epicenter has been shifted from China to Europe to the United States. By this time, over 1.5 million people had been affected by COVID-19 and about 80,000 people had died worldwide. Indirectly, billions of people have been suffering from the impact of the global pandemic of COVID-19. What is disturbing is that the numbers likely stem from under-reporting, and may probably rise alarmingly in the weeks ahead if we factor in asymptomatic patients and rapid tests. Given that the pandemic-driven crisis is constantly changing, countries are desperate to flattening the curve for COVID-19. Surely, this Coronavirus has put the world economy at a major risk Coronavirus ravages the economic foundations of world trade. Commentators have identified this outbreak as an outcome of hyper-globalization or starting of de-globalization. However, the world is going to face recession;and the global losses, according to some commentators, may exceed World Wars I and II combined. At the same time, the falling world price of crude oil has added further anxieties. Several estimates are now available on the economic loss and post-COVID-19 growth path, and most of the estimates show that the world is already in an economic crisis. South and Southeast Asian countries are no exception. They are heavily affected, health or otherwise. Countries are under full or partial lockdown for the last few weeks. It is a global challenge and a global response is called for. Flattening the COVID-19 curve together helps everyone in an inclusive manner. Unlike the 2007-08 Global Financial Crisis, it is primarily a health crisis, which has given birth to an economic shock. Meanwhile, the world order has been changing fast. Several theories are being postulated. Anti-globalization rhetoric venom is now unfurled. In such unfolding "New Normal" of the world order, the consensus is that countries need to save the earth from the epidemic if we need to live together.