Grocers, cafés and other businesses — big and small — in Delhi, Mumbai, Bengaluru and elsewhere have been seized by uncertainty after the Reserve Bank of India (RBI) cracked down on Paytm Payments Bank on January 31 for not complying with regulations.
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Synopsis
The manufacturing and construction sectors, which are fully functional, have not seen any flight of labour so far. Companies claimed they are better prepared this time around and don t expect significant hurdles in operations except last mile delivery.
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Companies across hospitality, retail, consumer and auto sectors fear labour could migrate to villages once again after steep rise in new Covid-19 cases in several cities and subsequent restrictions and lockdowns in a few states. Reverse migration has already begun at restaurants and the retail sector in cities such as Mumbai and Delhi, which companies say could trickle down to other segments.
Synopsis
ET had reported that lengthy lockdowns can potentially wipe out the 9-month recovery in offline sales channel for smartphones which has just bounced back from record low market share of 49% in December quarter to 60% in January-February months.
ET Bureau
Smartphone and laptop shopping has suddenly picked up in select pockets of Maharashtra including Ahmednagar, Raigad and Vidarbha regions due to rumours of a 25-day absolute lockdown.
Smartphone retailers, ET spoke to, said markets are more crowded than usual, mainly to stock essentials, but consumers are getting hands on affordable smartphones and laptops for fear of any disruption in school examinations.