We all know about this COVID 19 situation and how brutal it is to the economy not just India but to the whole world. Also the IMF’s Chief Economist Gita Gopinath, in an exclusive conversion with Times Now said that they are projecting a 3% contraction in the global GDP due to the COVID-19 pandemic. While the whole world is struggling to deal with the COVID-19, the situation can even go to worse than that of the Great Recession (2008 crisis) where the contraction was just 0.1%, there are few industries that can be considered to be Black horse of this volatile period. Here is the list of the following industry: Online Gaming Industry, Pharmaceutical Industry , Telecommunication Industry , Web-Conferencing Industry , Ed-tech Industry , E-Banking or Payments.
Online Gaming Industry
We all are familiar to PUBG and must have heard about Dream 11 which emerged to be unicorn worth of billions of dollars. In India, online gaming had put its foot from last few years but emerged to be one of the fastest growing industries in the country. As it was growing at a moderate rate but it saw a sudden spurt in the usage in the last few weeks which is more than 30-40% than usual rate. Out of all online games, gaming with education saw a spark in the crisis and the reason is clear with people following social distancing and living in indoors they have much time left that they spend in such games. Also it cannot be ignored that the only way to connect to the loved ones is social media sand reason for the meeting is the games. Therefore, the online games with composition of social media are the best option for them.
While all the industries are finding to sell off their inventory & finished goods, this industry is in a need to increase the supply of its finished goods. As the condition worsens of the Covid-19, there is a surge increase in the demand of this industry to produce more and more material to fight with the health crisis. Also this industry is sought to be ray of hope for the whole world to rip off the Covid-19 completely.
We just can’t ignore about how Zoom has become the talk of the town globally. With schools and colleges being shut and all the companies are being ask to arrange work from home, this industry has seen a surge amount of gain in the recent weeks. Zoom stock itself seen 200% gain in this bearish market and the whole industry is counting the profit day by day. With the people are restricted to stay indoors and the only way to communicate officially and conduct live classes for students is web-conferencing, this industry is out performing between this volatile market.
Education-Technology, it’s a combination that is worth to watch for. With the unicorn like ‘Byjus’ that count in millions, this industry, this industry is also a significant representative of new technology. This Global Pandemic would give rise to Ed-tech industry as many of the students are enrolling in the online courses of Data Science, Cloud Computing, Personality development etc. the online education sector have been seeing an explosive growth in the recent times, with 3000 new jobs projected in the industry. Also many investors are stepping up their interest in the Ed-tech industry, recognizing its potential at the time of economic downfall.
The amount of people using data services has increased. As seen above many of schools & colleges are heading online and many employees have to start their work from home, the requirement of data is seen increased by 10%. Not just data but users of data had also increased as many who were hesitant to go for much amount of data and purchasing an data plan are now obliged to do the same. Although this industry is sought to make many changes for providing ample amount of data services to the customers.
Although this industry can be a part of e-commerce industry, which it stand in its own value. The use of internet banking, UPI payments and payments from e-wallets like Patym had been significantly more. As after the outbreak of Covid-19 people are more inclined towards making a Digi-payments rather than the cash. Many people are reluctant in stepping to ATMs while some are not going for cash payment in fear of virus traces on the notes. Funny isn’t it few days ago people were running after notes and now they are running away from notes.
Besides all the above industries there is also one industry that cannot be ignored that is the manufacturing industry. The manufacturing industry is seen as a drastic downfall but it should not be ignored that although there is decrease in supply & demand of FMCG products but there is a drastic increase in the production and supply of PPE kits and medical products (like: masks) which is surge in demand these days. Also the supply & demand of disinfectant (like sanitizers, hand wash) also saw a sudden rise.
So, on and all COVID-19 crisis is effecting the economy very harshly but the technological advancement & digitalization played a significant role for many new unicorn industries and existing industries to enhance and establish their significance in the market & gain profits in such volatile market.
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