![](\"https:\/\/img.etimg.com\/thumb\/msid-89145176,width-300,imgsize-126078,,resizemode-4,quality-100\/virus-outbreak-india.jpg\")
<\/p>\nBy Kala Vijayaraghavan\u00a0& Ratna Bhushan<\/p>\n
<\/p>\n
A health worker collects a swab sample from a traveler at a train station to test for COVID-19 before allowing her to enter the city, in Mumbai, India<\/p>\n
India Inc has demonstrated resilience in the third wave of Covid-19, despite disruptions and challenges, and business should rebound by February-March, say CEOs and business leaders.<\/p>\n
Larger markets such as Mumbai and Delhi have been able to deal with the third wave, without putting too much pressure on the healthcare\u00a0infrastructure, and smaller cities too are expected to ride it out better than the previous ones, corporate leaders say. While employees having to take time off to recover from Covid infections did delay assignments and plans, relative mildness of Omicron, lower mortality levels compared with the second wave and large-scale vaccinations resulted in the absence of fear and stress among organisations.<\/p>\n
Infosys founder NR Narayana Murthy said Indian industry has done a pretty good job at drdriving growth despite Covid.<\/p>\n
Absence of Lockdowns Helped<\/strong> \u00ab\u00a0The government has also done a great job on the vaccinations front. That has led to a drop in mortality and fear, and more confidence in running businesses and life,\u00a0\u00bb Murthy said. \u00ab\u00a0We have to learn to live with the virus with more planning and less panic. I think the Indian economy is fairly resilient today and will be on a strong wicket.\u00a0\u00bb<\/p>\n Corporate chieftains say businesses have attempted to mitigate the risks arising from Covid over the last two years in terms of planning, sourcing and strategy. Investment in robust and diversified supply chains, automation of processes, and accelerated digitalisation on the customer-experience side, have helped companies manage the aftermath of Covid better. Also, the absence of lockdowns has ensured less disruption and less panic.<\/p>\n \u00ab\u00a0Fear is absent\u00a0and we are in a better place to deal with Covid in terms of medicines and health infrastructure. There have been blips in demand, but we see lesser anxiety, leading to more business confidence. Fortunately, there were no lockdowns and we are hopeful that the Omnicron wave ends by March this year,\u00a0\u00bb said RPG Group chairman Harsh Goenka. The chairman of a top Indian conglomerate said that in the first wave there was tremendous business uncertainty, and in the second wave, the high levels of\u00a0mortality caused a dent in business and consumer confidence. This time round, business is better prepared and illness caused by Omicron is temporary, without being life threatening in most cases. \u00ab\u00a0Vaccines, improved line of treatment, and availability of better drugs will help cope with the pandemic. Businesses have to work around Covid,\u00a0\u00bb he said.<\/p>\n CONSUMER SENTIMENT<\/p>\n Business leaders were of the view that consumer sentiment remained positive.<\/p>\n \u00a0\u00bb Consumer sentiment is far better after vaccinations and boosters. Business rebound is expected to be faster than before,\u00a0\u00bb said Indian Hotels Company Ltd managing director Puneet Chatwal. Businesses took six to nine months to bounce back after the first wave in 2020, three months to recover after the second wave, and six weeks in the third, he said.<\/p>\n Shoppers Stop MD Venu Nair said consumer sentiment continues to be positive. \u00ab\u00a0We are already seeing a positive trend in sales, and we expect a faster rebound this time,\u00a0\u00bb said Nair.<\/p>\n Asian Paints CEO Amit Syngle said while consumer sentiment has been subdued in the third wave, prior experience shows that a Covid wave is followed by the release of pent-up demand. \u00ab\u00a0Covid leads to temporary suspension in demand owing to deferment of plans, but buoyancy will return fast,\u00a0\u00bb he said. Companies selling discretionary products said compared to the first two waves, business remained largely on track in the third wave. Beauty unicorn Good Glamm group founder Darpan Sanghvi\u00a0said during the second wave, there was a drop in consumer sentiment. \u00ab\u00a0Consequently, we saw online click-through rates (CTRs) drop by 15- 20% and offline was badly impacted by over 40- 50%. During the Omicron wave, we have not seen consumer sentiment get hit. We see CTRs staying strong and online sales staying healthy,\u00a0\u00bb he said. \u00ab\u00a0Agility of supply chains, distributed manufacturing footprint together, omni-channel presence as well as accelerated digitalisation have enabled us to ensure continued\u00a0 and uninterrupted supply of our range of FMCG products,\u00a0\u00bb said an ITC spokesperson.<\/p>\n Metro Cash & Carry MD Arvind Mediratta, too, said the impact of the third wave on business was much less severe compared to the earlier waves. \u00ab\u00a0There has been a slowdown in sales over the last one month (around 10-15%) with the hospitality sector down by 25-30%. But we expect this to get over by mid-February as by then the third wave would have receded in all the big cities,\u00a0\u00bb he said.<\/p>\n
\nHe added that Indian businesses will remain resilient with appropriate Covid protocols, vaccinations and greater planning.<\/p>\n