In India, the second wave of Corona virus has disrupted normal life. Due to this, there has been a decline of 1.1 percent points in customer confidence in the country during the last month. This is according to the Monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI). Customer confidence has weakened in all four indices – jobs, personal finance, economy and investment for the future. In April, there has been a sharp rise in the corona virus cases in India. Immunization process is going on in the country.
Fall in all indexes
The Consumer Sentiment Index shows that the index related to job confidence has fallen by 0.6 percentage points. The PCSI personal financial position index has seen a decline of 1.5 percentage points. The index related to the investment environment declined by 0.9 percentage points. The index of economic expectations has dropped by 0.8 percentage points.
Ipsos India CEO Amit Adarkar said that the recovery started after the first wave of businesses and now the new wave (which is more transitioned) has sentiment related to jobs, finance to run daily homes, savings, investment and economy. Has started to affect it badly. During the last wave of COVID-19, only less than 1 lakh cases were seen in India. Now as the second wave continues to wreak havoc, the number of daily cases has risen to nearly 3 lakh cases.
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Recovering from last year’s lockdown, customer sentiment was steadily improving until January this year. But after the second wave was interrupted, in the last two months, it has seen a decline again. Amit Adarkar said that the government needs to adopt a multi-long-term strategy to combat the effects of the virus. He said this includes increasing testing, increasing vaccination operations, creating mini containment zones in the areas most affected by the virus, following SOPs and making health infrastructure available to deal with the virus.
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