In Wuhan, South China, numerous cases of unidentified pneumonia were reported during the final week in December. It is reported that the Centers for Disease Control (CDC) identified mystery pneumonia as a novel coronavirus-related pneumonia on January 7, 2020 (Lu et al.., 2020). In the following years, the International Committee on Taxonomy of Viruses changed novel coronavirus pneumonia to SARS-CoV-2 (Severe Acute Respiratory Syndrome Coronavirus 2) (Huang et al., 2020; Lai et al., 2020). On February 11, 2020, the disease was classified as COVID-19 by WHO. World Health Organization (WHO, 2020). The WHO declared the emergence of COVID-19 as a pandemic in March 2020, when instances outside of China rose to over two million across different regions around the globe. The number of new cases reported in China, where the virus first came to light, is decreasing rapidly. However, the number of instances outside China continues to increase. At the time of writing, September 22, 2020, there were 31507 confirmed instances of COVID-19 worldwide and 969,812 confirmed deaths. Within the United States and India, where tests are currently being conducted more often and more frequently, models of COVID-19 proved are increasing rapidly. Figure 1 illustrates the top 10 nations in the world with the highest illustrations authorized as of August 3, 2020.
FIGURE 1
Top 10 countries with the highest quantity of verified cases
The COVID-19 pandemic outbreak is described as a black swan event (Burch and co.., 2016). It has not just hurt the health of people across the globe but also affected the socio-economic activities of nations worldwide. To flatten the curve of the pandemic, the governments of almost 162 countries have announced strict shutdowns of national and international borders, travel restrictions, and lockdown measures (https://www.aljazeera.com/news/2020/03/coronavirus-travel-restrictions-border-shutdowns-country-200318091505922.html). So markets in the top economies of the world, as well as other countries, are operating with the fear of disruptions to the global financial markets. The main areas of concern are international trade, supply chain industries, agriculture, automobile industry, electronic industry travel, tourism, and transportation industries, and more have been disrupted due to the spread of COVID-19. The economic activity of other sectors, like aviation, entertainment, sports, etc., is also severely affected worldwide due to the lockdown. The first instance was discovered in India in the final week of January 2020. The number of confirmed cases of COVID-19 began to increase on February 2, 2020. Since India is still a growing nation, so its health system could be destroyed if the number of cases increases exponentially. To stop the spread of coronavirus, officials of India have declared a strict three-week lockdown from April 25, 2020. Because of the lockdown, many migrants from all over the country are left without work or a source of income. Since all activities across the country are being halted strictly, a significant disruption has been experienced in the supply chain system across all sectors. This unusual and unplanned lockdown also severely affected the economy, which has declined since the fiscal year from 2018 to 2019. This is why it is essential to assess the effects of the pandemic on various industries. This can help government officials and policymakers implement the appropriate strategies, measures, and economic policies to address the challenges different sectors face due to the pandemic.
This report highlights the effects of COVID-19 on six critical sectors, including automobile power and electronics, energy tourism, travel, transportation, education, agriculture, and transportation. We also focused on examining the problems and issues in these industries by estimating how the economic shifts have occurred in these areas because of COVID-19. Additionally, it detailed the strategies adopted by government officials to offer assistance to migrants and to beat the recession that has hit diverse sectors.
The remainder of the paper is standardized in the following manner. Part 2 shows the effect of COVID-19 on the automotive industry. It also discusses the numerous issues and obstacles within the automotive industry and strategies to address them. The impact of COVID-19 on the Power and Energy sector and the actions taken by policymakers to correct the imbalances observed in this area have been outlined in Section 3. The impact of COVID-19 on the consumer electronics market and the electronic supply chain is described in Section 4.. 5. 5 discusses how COVID-19 impact on public transportation as well as the travel and tourism industry. The effect of COVID-19 on diverse sectors of the agricultural sector and measures taken to deal with the challenges faced by the pandemic has been described in Section 6. The effect of COVID-19 on various sub-sectors of the education system, as well as the steps that universities from different countries as well as the Indian the education sector to tackle the challenges faced by the education has been discussed in Section 7. 7.. Section 8 provides information about the effect of COVID-19 on publishing industry. Section 9 describes the analysis of the COVID-19 impact on the economics of various sectors. The report also provides a study of other industries which the pandemic of COVID-19 has impacted. It also summarizes the impact of COVID-19 on the economic growth (gross domestic product) of the Indian economy and the job issue. The conclusion of the study has been discussed.
