Tourism, hospitality, aviation worst affected by Coronavirus pandemic: FICCI

The Indian economy has been experiencing a significant slowdown over the past few quarters. In the third quarter of the current fiscal, the economy grew at a six-year low rate of 4.7 per cent. There was a strong hope of recovery in the last quarter of the current fiscal. However, the new coronavirus epidemic has made the recovery extremely difficult in the near to medium term, said the industry body FICCI in a report on Friday.

In the report titled, Impact of Covid-19 on the Indian Economy, the industry body pointed out that tourism, hospitality and aviation are among the worst affected sectors that are facing the maximum brunt of the present crisis. Closing of cinema theatres and declining footfall in shopping complexes have affected the retail sector by impacting consumption of both essential and discretionary items,