Impact of coronavirus on business environment, the response of brands and what should marketing teams focus on.

“Moody’s cuts India’s GDP growth outlook in 2020 to 2.5% amid coronavirus outbreak.” This news came after a few days when India went under a 21-day lockdown, which began on March 25, to contain the spread of coronavirus. Rating agencies saw this as a potential brake on the economic activity that would adversely affect the growth of the country, which is already on a downward trajectory for the past few quarters. Although the move, for a lockdown, from the government was necessary in order to safeguard public health and protect the economy from getting worse from this pandemic. The lockdown, categorically, will put several liquidity constraints on the business environment and will affect the overall growth across sectors. The impact will be seen more in the first quarter of the financial year 2021, which began on April 1. Anticipating this, Finance Minister, Nirmala Sitharaman, announced a 23$ billion package aimed at cushioning the disruption coronavirus outbreak mi...