Corona's second wave swept 58 per cent of the country's companies

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MUMBAI: The second wave of Corona and subsequent lockdowns by various states have adversely affected the business of about 5 per cent of the country's companies, though recovery is expected to be strong in the coming days, according to the Federation of Indian Chambers of Commerce and Industry (FICCI). Found in a survey conducted by.

The survey report noted that sluggish demand has been a major challenge amid the current climate.

At a time when urban demand was hit hardest, 6 per cent of the companies surveyed said rural sales had been hit hard.

New cases of corona are declining and trade and economic activities are expected to return to normal in stages with the resumption of the unlock process.

Out of the total companies participating in the survey, 4 per cent said they expected capacity utilization to cross 40 per cent in the next 8 to 12 months. Forty percent of companies said they were operating below 50 percent of installed capacity.

According to another report, sales of Fast Moving Consumer Goods (FMCG) in the first fortnight of June were up 19 per cent year-on-year.

With grocery stores reopening for a long time, sales of packaged foods, beverages, confectionery, etc. are on the rise.

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