In Charts: India’s Covid-19 Lockdown Battered These Industries The Most
Lockdown restrictions to curb the spread of the virus dented economic activity and hit industrial output.
India’s industrial output plummetted between April and July as a nationwide lockdown to contain the pandemic froze economic activity.
The Index of Industrial Production, a gauge of factory output in the country, saw a record 57% contraction in April. Since then, with the gradual reopening of the economy, industrial output has been increasing but still remains significantly below pre-pandemic levels.
The restrictions led to a 24% contraction in the country's gross domestic product in the April-June quarter—it’s the first contraction seen since at least 1997-98 and the biggest among large economies.
Data shows that the output of automobiles and consumer durables saw the biggest decline, according to a compilation of operational indicators by Care Ratings. The output of fertilisers, agrochemicals, pharmaceuticals and essential items like soap and milk was among the very few to witness an increase since April.
Here’s how various industries were hit by the lockdown:
Manufacturing
Among the major manufacturing industries, the biggest declines were witnessed in commercial vehicle production, air conditioner and refrigerator output, and production of yarn for textiles.
FMCG
The fast-moving consumer goods industry was relatively less impacted by the pandemic as people continued to stock up on essentials during the lockdown.
Metals
The pandemic took a toll on the production of all base metals barring lead. Steel output—reliant heavily on the automobile industry—fell the most.
Oil And Gas
The fossil fuel industry witnessed a relatively smaller decline in output compared to most others. Production of refinery products took the biggest hit.
Infrastructure
As the lockdown halted all construction activities for almost a month till the end of April, infrastructure output too fell. The cement industry saw the biggest decline in production.
Capital Goods
Production of capital goods and heavy machinery was also significantly impacted. Construction and printing machinery output fell the most.
Freight
Cargo handled at ports was relatively much less affected compared with airports and railways.