More than half of the companies surveyed were micro and small units while 15 per cent were medium and large companies. Around 57 per cent of companies were from the manufacturing sector, 25 per cent from the services sector and the rest were involved in both manufacturing and services. The industries in and around Pune are slowly returning to pre-COVID production levels. Around 55 per cent of the industries are likely to take another three to nine months to get back to pre-COVID January 2020 production levels.
The pharma and food processing companies have almost touched the pre-COVID production levels. A survey done by the Mahratta Chamber of Commerce, Industry and Agriculture (MCCIA) in August noted that covering more than 100 companies in Pune district, including micro, small, medium and large scale units, shows that 5 per cent of the respondents have already achieved the pre-COVID levels of production, which were pharma and food processing companies. Around 15 per cent of the respondents expect their production levels to go back to the January 2020 levels in less than three months. The remaining 15 per cent say this could take more than nine months, the survey said.
Almost 70 per cent of the respondents now have visibility of their revival over the next three to twelve months. AS Rajeev, MD & CEO, Bank of Maharashtra said that as the economy opens up fully post lockdown, chances of recovery are good. The demand has started to pick up especially the sectors involve retail, pharmaceutical, agriculture and it can expect credit growth to increase substantially from Q3 onwards.
As Unlock 1.0 began in most parts of India many companies have resumed operations to survive the unprecedented times. According to Shah Miftaur Rahman, CFO, Wow! Momo said that about 30-40 per cent demand is expected to come back by June-July as many people will go out from their homes and learn to live with the virus by taking precautions.
More than half of the companies surveyed were micro and small units while 15 per cent were medium and large companies. Around 57 per cent of companies were from the manufacturing sector, 25 per cent from the services sector and the rest were involved in both manufacturing and services. The average production levels reached by these companies by August 2020 were at 50 per cent. The number of employees working in the surveyed companies has gone up from 47 per cent in July to 56 per cent in August 2020.