Impact of COVID-19 Pandemic on Indian Services Sector

Abstract

The COVID-19 Pandemic which resulted in lockdown across the world and business were forced to run their activities by keeping the Social Distancing in Mind to reach out to the customers. The sudden or drastic change in the business approach due to the pandemic has resulted many of the players in service industry to stop their business activities or have seen the drastic decline in their business till they are accustomed to the new approach of doing the business. Sectors like Education, Health Care, Gym, Tourism have witnessed a direct impact as the involvement of the people/Customers/Consumers were limited or completely shut to provide the services, With the government’s restrictions on the E-Commerce platform was allowed to operate with lot of restrictions to provide only essential goods to the borrowers and the service providers came in with the improvement in their services to provide contact less deliveries to the customers at their doorsteps, these type of activities has resulted enormous increase in the E-Payments crossing multi billions in the months after the initial lock downs. This chapter will highlight the scenarios both Pre and Post COVID-19 perspective towards services sector