These are trying times for all. The current outbreak of the COVID 19 Corona Virus Pandemic has been causing mayhem all across the globe. It is spreading fast and causing immense deaths. It is being seen that social distancing is undoubtedly been found to be the most effective way to contain this deadly virus. The result has been that it has led to lockdowns in nations after nations. Even the most advanced ones though have struggled to cope up with the fast outbreak. The lockdowns have resulted in the entire globe almost coming down to a near standstill. This though may be very effective to fight the coronavirus is likely to cause a great economic downturn as well. This is already reflected in most of the sectors.
Economic Fallout from the Lockdowns: A Major Concern
The economic fallout from the lockdowns is a cause of great concern too. This is sending chills down the spine of most people. The huge fall in demand for global oil and gas led to a sharp fall in the prices which led even it led to its trading in negative territory. It is true that the picture is grim not just for India but also for most nations all across the world. What is even worse is that how long the challenges may last is still oi fully known, leading to many uncertainties.
Silver Lining amidst the Crisis
The good thing about India though that in comparison to other nations where contractions have been predicted for most economies, as per the IMF Study, India has been forecasted to grow nominally at 1.9%. What is also encouraging during these challenging times is that as per a reputed media house the IMF has predicted that India may bounce back to a 7 % Growth rate in GDP in the year 2021. This is the silver lining in these trying times for sure. When it comes to major growth there are obviously certain sectors that will lead the growth post this COVID 19 Crisis in India.
Electric Vehicles and E-Rickshaws set to lead the Growth Post Crisis
Amongst the major sectors that are likely to grow rapidly after this current crisis is over the electric vehicles sector, particularly the electric rickshaw sector would certainly be the growth drivers. India, as you might be aware, is targeting to be an “Electric Vehicles Nation” by the Year 2030. Besides as per a Recent Media Report the sales were already up 20 % last financial year for the Electric Vehicles Sector already. So this trend of high growth is likely to be on course following the opening of the lockdown in India.
To conclude we can indeed say that if you are based in Bihar or in Jharkhand building your business with e-rickshaws can indeed be very profitable. However, going forward you need to have the best Supplier for Electric Rickshaw in Bihar or the to make the most Government Approved E-Rickshaws Supplier in Jharkhand of the business opportunities in the times to come.
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