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Experts discuss impact of Covid restrictions on service sectors

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Experts discuss impact of Covid restrictions on service sectors

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Even though hospitalizations remain low, several states have imposed strict restrictions. Delhi has banned catering service in restaurants and closed private offices.

Tourism, hospitality, aviation and several other sectors that hoped to recover from previous blockages are paying the price again. Industry organizations have warned the government that knee-jerk reactions would not help much and actually threaten the economic recovery.

In its list of recommendations to the Minister of Health, the Federation of Indian Chambers of Commerce and Industry urged the government to reduce the quarantine period to five days to help contain staff shortages.

The Association of Hotels and Restaurants wants tourism and hotels to be classified as “most in difficulty” and is looking for a special relief program to allow survival. He says about 75 percent of the industry’s revenue was wiped out in FY21. About 30 percent of hotels in the hotel industry were forced to close and 50 percent suffered losses.

To discuss this in detail, CNBC-TV18 spoke with the Senior Vice President of the Federation of Indian Chambers of Commerce and Industry, Subhrakant Panda. He is also the head of the FICCI working group on COVID. Pradeep Shetty, Co-Secretary of the Hotel and Restaurant Federation; Juzar Khorakiwala, President of the Indian Merchant Chamber in Mumbai; and Ajay Bakaya, who is a member of the Hotel Association of India, are also participating.

For the full management commentary, watch the video.

First publication: STI

Experts discuss impact of Covid restrictions on service sectors

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