Opinion

Impact of Lockdown on Manufacturing Industry and its after effects

Punjab Tribune Bureau | July 17, 2020 03:50 PM
Punjab Tribune Bureau

CHANDIGARH: The coronavirus outbreak is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The ongoing lockdown has put a lot of strain on the manufacturing industry which contributes almost 20% of the GDP. Almost all the industries are badly hit by the lockdown, this comes as yet another blow for the windows and doors manufacturing industry.

The lockdown has made the economy handicapped with the shutters closed and is also affecting the livelihood of many. The manufacturing units have already suffered a huge loss. With it, the livelihood of those associated with the industry is at stake. In this uncertain time, 90 % of the workforce has gone back to their native places, leaving manufacturers in the lurch. Workers exodus has come as a double whammy to many COVID-hit Indian sectors that were already reeling under a slowing economy.  As the saying goes that “there is light at the end of every tunnel”, every crisis brings its own set of opportunities. Since, Unlock 2.0 has increased the demand for ongoing projects  and the delivery will continue at least for the next couple of months.

 

As manufacturing decides on how to go about the future, post lockdown the industry will also have to teach its workers the new standards expected out of them. Safeguarding consumer and workforce health is priority number-one among businesses and governments. A few precautions such as thermal sensing, sanitizing the factory, providing sanitizers to workers, establishing boundaries of social contact, should be taken to keep working amidst this pandemic. All in all, the manufacturing sector should think of the long term and mould its business model accordingly. The most immediate concern currently on the minds of manufacturers is cash flow and working capital. Many from this industry are recognizing that COVID19 is a wake-up call to change and improve different aspects of manufacturing operations. This pandemic came as a bolt from the blue for the manufacturing sector for businesses that were digitally under-prepared. Technology is the new backbone of the manufacturing industry that wants to succeed in the post-COVID world. Digitization is no longer optional; it has become a critical need in a scenario where physical interactions will continue to be extremely limited and remote access to everything will be the order of the day. The traditional market, will not be possible for a long time, so holistic e-marketplaces will become an important way for manufacturers to reach out to potential customers, suppliers, and lenders to grow their business.

 

In contrast to many manufacturing industries, the uPVC business has seen some optimistic approach on the manufacturers despite constant negative outcomes amidst lockdown. No doubt the whole business industry is getting affected to a different degree by the current macro-economic situation but due to backlog, Doors and windows industry don't get immediate impact on the business. In the coming time, the world will look upto India as the alternate manufacturing hub. They have realised their over necessity on China is costing them dear. We will now see several collaborations with Indian manufacturing firms for machinery and equipment. Amidst the Covid-19 threat, uPVC Industry is finding a way to forge ahead. It would be safe to assume that uPVC would be the last business to get affected by the lockdown, producers from this industry are facing enormous weight from their customers to quick deliveries of the prior orders. One important thing this industry is focusing on is gearing up on project delivery. During the Covid-19, uPVC Industry is finding a way to forge ahead, as already started housing construction activities is driving the demand for uPVC windows and doors in the market.

 

 

It is true that manufacturing industry  (along with the rest of businesses) has suffered a lot due to the recent COVID 19 crisis but there is a lot to gain if we are alert to the demands of the changing world. Hence, a systematic and strategic approach can put industry on the path of enormous economic growth. Thus the related segments, including windows & door market will vroom again.

 

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