Coronavirus has taken the world by storm since late December 2019, and there have been several attendant effects, especially for Indian businesses.  

According to a survey conducted to understand the impact of this virus on Indian businesses owners, 30 percent of respondents admitted it would decrease the demand for their products and services. It is noted that the country went into a lockdown on March 25, 2020, thus restricting the largest world population of about 1.3 Billion People. 

This health hazard is affecting and shaking up several businesses around the world on a massive scale. However, in the midst of this global panic, several opportunities are opening in certain industries, and even more companies in these specific fields are experiencing massive growth. In this article, we will examine specific Indian industries enjoying unprecedented prosperity in the midst of this pandemic. 

Ecommerce

The Ecommerce Industry in India witnesses a surge  as customers eschew physical stores and large crowd markets. A shift in this shopping trend is providing a huge boost for online sellers in short term, but it may also increase sales long term if customers continue shopping online after the pandemic is over. Flipkart mentioned in a recent interview that e-commerce has been the lifeblood for cities that has been under shutdown due to the virus, and experts believe that the lockdown would help India expand its e-commerce market and make home deliveries even more common for the masses. It could also set the industry up for new employment opportunities. 

Grocery Delivery

Groceries are necessities that many Indian families cannot do without. However, there are more physical stores in India than online, and thus a surge in online grocery delivery is inevitable. Ecommerce giants such as BigBasket, Grofers, and Flipkart have resumed services in some parts of India, just after they were slightly interrupted due to the nationwide lockdown. 

An increase in this sector has seen Grofers and Big Basket announce hire of over 12000 people for frontline positions. Since the lockdown, there has been about 8 - 10 times increase in demand, according to Grofers CEO, AlbinderDhindsa. 

Online casinos

The closure of land-based will invariably lead to an increased usage of online casinos. This is the most reasonable and safest alternative for Indians who are looking for reliable online casinos to play with real money.  Digitization and increase in the use of smartphones has made it very easy for casino enthusiasts in India to easily transition from land-based to online casinos. 

Invariably, the online gambling terrain in India will witness a tremendous growth in coming weeks as Indian gamblers will continue to flood them in large numbers. Statistics show the online gambling market in India will be worth $36 billion by 2022. 

Online banking

The outbreak is prompting second thoughts regarding cash usage all over the world. This could be enough incentive to introduce mobile payments to people who haven’t seen the need before now. According to reports, E-payments and online banking witnessed a surprise soar in 2016, and a similar situation might occur during this pandemic. This could have permanent positive effects on the online banking industry. 

Also, the Governor of the Reserve Bank of India (RBI) has advised customers to use digital banking facilities as much as possible. According to him, various measures have already been taken to establish a safe, stable, and affordable retail payment system, to encourage digital payments. 

Online teaching and remote learning

Students all over the world have been forced to stay home indefinitely as a result of the pandemic. The gap-break in knowledge may not be a great thing and the need to develop online courses for educational institutions presents a great opportunity for many companies. In India, the Mumbai-based LEAD school has a programme called LEAD School@Home recently, to help schools conduct live online sessions to complete the unfinished parts of school curriculum. Shortly after the launch, the CEO mentioned that the LEAD school saw about 10,000 student register within 2 days of release. 

Online medical platforms

Indian has recently acknowledged the practice of telemedicine and the spread of Covid-19 across the country has resulted in a major boost. Face to face consultation is notably risky for both patients and doctors, and given the circumstances, remote consultations over the phone and/or video calls can help patients access health care while limiting exposure to the barest minimum. This has led to the growth of online medical platforms such as DocsApp, mfine, and Practo. These apps allow patients to connect remotely with doctors and schedule virtual consultations. Since the beginning of March, patients seeking teleconsultation of Practo have tripled.