22-Apr-2020 | Market Research Store
The statement made by the ICC concluded that huge losses are expected in the logistics sector and the aviation sector will experience the worst hit. As the lockdown is extended till May 3, the loss that is anticipated to be over Rs 50,000 crore and the highest loss will be experienced in the aviation sector. Another sector that is assured to experience loss is the roadways due to missed toll taxes and the goods that were wasted on the road due to the sudden lockdown.
Even though the government has given permission for the movement of essential products along with some non-essential ones but it lends no great help. There is adding chaos as the ships have been quarantined at high seas for 2 weeks and the cost of the resources is very high, a helping hand is required for the sector.
The relief measures that they are looking for are digital permits and food packages for the drivers after traveling of every 50kms from NHAI and a waiver of the EMI obligations at least for the duration of 6 months until everything normalizes.
In addition, it wanted a GST reduction among the other waivers that were demanded. They wanted some leniency until September 2020. The ICC also requested health insurance for the employees that will be sponsored by the government.
The report published by the Market Research Store on the global logistics industry gives all the factors that will aid the market development in the coming years.