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Tag: global pandemic

  • The Impact of COVID-19 on the Event Industry

    Covid-19 completely changed our lives and our entire pespective in a span of two years. We never thought that we will be confined in our own homes for months, events will be held virtually and mask and sanitizers will be our best friends.

    Most weddings, music launches, concerts, office functions, or themed birthday parties these days are not simple events anymore with the sword of Covid-19 hanging on our heads. However, there needs the intervention of a specific type of services for an event to get successful, they collectively known as event management.

    Duties of event management cover selection and reservation of venues, coordinating with merchants, planning for transportation and parking facilities, responsibility for compliance with health and safety standards, crisis and situation management of the event, creating a security strategy, and controlling the entire event. All this comes under event industry sector.

    Coronavirus pandemic has hit many sectors across the world. Aviation, Hospitality, Event Industry, and others are some of the worst-hit sectors due to lockdowns and travel constraints. As countries around the world start to reopen their economy, the events industry appears to have drawn the least attention.

    It is no secret that corporate events such as conferences and trade shows are very often bundled up with crowd gatherings, which have been proved to expedite Covid-19 viruses.

    Hence, events are usually part of the ultimate phase of reopening. In India, this sector accounts for the employment of 10 million people who have been directly harmed due to the crisis.
    The event industry is looking forward to some relief as the Government has bnow allowed people to hold events just like before. In this article, we will talk about the situation of Indian event industry post-lockdown.

    Impact Across Sectors
    How the Event Industry Is Adapting COVID-19 Period?

    Impact Across Sectors

    Business

    All business meetings, Annual General Meetings, associate meets, product launches, tech, and non-tech colloquia, seminars, and association meets are Business Events. The impact of the cancellation of business events is significantly strong. The events that were scheduled for the end of the year have now postponed to 2021 and 2022.

    Exhibitions and Trade Fairs

    Exhibitions and trade fairs account for up to 60,000 events in leading eleven countries. These events witness a large gathering of customers and marketers across all areas and provide huge business venues and convention centers.

    Sports, Entertainment, And Tourism

    Events organized to support tourism and regional business have called off their current year’s editions, and the most recent example of which is the Expo 2020, Dubai, originally scheduled in October 2020.
    The sector also observed the cancellation of the Tokyo Olympics and other events like IPL nationally, who canceled their 2020 edition and was held in 2021 instead.

    Social Events

    Government norms will now regulate religious gatherings, weddings, parties, festive gatherings, and many more. There is an obligatory requirement of multiple approvals involving paperwork, hence leading to a restricted version of the originally planned event.

    • Approximately 52.91% of companies occurred 90% of their business being canceled between March-July 2020.
    • 107 firms suffered from an income loss of up to INR 1 crore.
    • About 7 companies visualize a 50%-80% reduction in their current workforce and 35 between 25%-50%.
    • The working capital/loan expected to keep floating for the next 6 months is around 2-5 Crore for 39 companies and 1-2 Crore for 118 companies.
    • About 97 companies need to raise capital or debt from organizations or shareholders, banks, AND OTHERS.
    Segmentation of Events

    How the Event Industry Is Adapting COVID-19 Period?

    Advanced technology is playing a crucial role in the event industry sector. Modern hours require unmatched solutions, and here are a few ways in which the event industry is driving home the new normal.

    Virtual Events

    The multiple technological disruptions have facilitated the seamless online conduction of events, seminars, conferences, meetings, and gatherings involving a considerable number of participants. There are several platforms used for hosting such activities, which offer features such as-live as well as pre-recorded content, simultaneous running of varied breakout sessions, space for sponsors to showcase their products and services to others. Moreover, the ability to access the information later, even though the event is over serves to be a great joy for the audience. Additionally, the user interface of these events is so influential that it renders the viewer with a realistic experience.

    Increased Personalisation

    On being asked, many individuals stated that they could not enjoy to the fullest as they felt disconnected by the overpopulation of the venue.
    The events which are being organized in the corona times successfully overcome all these flaws by providing consumers the opportunity to enjoy the show from the comfort of their homes. Also, multiple examples are noted where the artists accepted the requests made by the viewers.

    Global Presence

    Eventually, the most significant change that the new normal brought is the re-establishment of the world as a global village. Virtual events are a sigh of relief as they emerge winners against geographical barriers. As a result of this shift, individuals across the world can experience the performance of their favorite artists.

    Modern Advertising Techniques

    The current times have noted the rise of advertising methods that are greatly consumer-centric, dynamic, and pleasant. With consumers being bound to homes, their usage of social media has increased. In this trend, various organizations are resorting to their online platforms to generate awareness, drive traffic, promote upcoming virtual events with enhancing viewer participation.

    Improved Physical Experiences

    With the event industry knocking at the door of a complete restart and the absence of a vaccine, organizers oblige to pay maximum attention to customer safety. People are forced to see a rise in terms of hygiene, be it at the venue or in terms of the deliveries happening for these events. In the post-pandemic, only those will succeed who can make their audience feel safe. This can be achieved through active communication channels and enabling the customers with a choice of easy cancellation of bookings.

    Conclusion

    The event industry suffered a big blow because of the Coronavirus Pandemic. Although, with the new normal being established and the situation coming back to its previous form, with time it will surely increase its growth in the country like it has been doing all these years.

    FAQs

    How big is the event industry in India?

    The revenue of the Indian event industry is said to be over 100 billion Indian rupees in 2021.

    Is the event industry growing in India?

    The event industry is growing at a rate of 16% CAGR.

    What are the three types of events?

    Three types of events are:

    • Private
    • Corporate
    • Charity

  • Billionaires Got Richer During Pandemic

    The worldwide COVID-19 pandemic may have pushed the world economy into a chaotic situation, with 2020 and 2021 projected to be worse than any of the years since the global financial crisis. However, billionaires, in the selected group of countries, have seen their financial situation improve during the phase of the pandemic, which has been financially painful for most people around the world.

    According to a US report, Billionaires have doubled their wealth in the pandemic. Their wealth sees more growth during Covid-19 than in the last 14 years. The total wealth for billionaires stood at around $5 trillion and it is the biggest surge since forever.

    The Billionaire Trend
    Billionaires in India
    Billionaires Who Got Richer

    The Billionaire Trend

    The sharp surge in the wealth of the richest Americans is being driven by the bounceback of the stock market in the US, primarily driven by the unprecedented action from the US Federal Reserve. Despite the surge in US Covid-19 cases and the record 43 million Americans filing for unemployment benefits, the country had hovered at record highs.

    Investors have been buying equities, with Big Tech companies and those linked to healthcare such as Big Pharma and hospital stocks among the major beneficiaries as the US Fed’s emergency responded to the crisis by cutting interest rates to 0% and undertaking to buy unlimited amounts of bond translated into assets such as stocks, despite being risky investments, seeing fresh demand.

    During the pandemic crisis, Amazon shares surged nearly 50% while Facebook recovered from the troughs that it hit in the month of March to record highs. Bezos, Facebook founder’s net worth surged over $30 billion since March 18.

    A recent study calculated billionaire wealth using data provided by the Forbes Global Billionaires List, an actual assessment of net worth. March 18, 2020, is used as the starting date as it roughly corresponds with the time when the US Government began imposing lockdown restrictions.

    “At a time of enormous economic pain and suffering, we have a fundamental choice to make. We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans,” the US Senator Bernie Sanders said.

    Billionaires in India

    In India, Mukesh Ambani’s net worth rose to nearly $79.3 billion, calculated on August 10, 2020, making him the fourth richest person in the world. Ambani’s wealth rose by $22 billion in 2020. He slowly shifted his focus to e-commerce, with tech giants seeking to buy a piece of India’s fastest-growing digital market.

    On the other hand, his conglomerate Reliance Industries was slammed by a decrease in demand for oil amid COVID-19, its share price has more than doubled from the low in March as its digital unit got billions in investments from companies including Facebook and Google.

    Major Indian pharma companies’ Share prices were on fire amidst the raging pandemic. Pharma tycoons like of companies like Sun Pharma, Dr Reddy’s Laboratories, Aurobindo Pharma, Divi’s Laboratories, Cipla etc. have doubled their net worth during the crisis. The wealth of Sunil Mittal and Gautam Adani of Adani Group has also grown largely.

    There is a severe wealth level of financial inequality, which exists in India, and the fact that during the pandemic that inequality has become much worse. The extraordinary wealth gains that billionaires have earned during the pandemic come at a time when COVID-19 pandemic may double the poverty in India.

    Billionaires Who Got Richer

    Some of the Worldwide Billionaires who have grown richer and richer even during the Pandemic, they have never ceased to grow and surprise their onlookers.

    Billionaires who got rich in pandemic

    Steve Ballmer

    The former Microsoft CEO Steve Ballmer’s net worth has increased tremendously during the pandemic. The tech billionaire had donated around $28 million to coronavirus charities in the month of August. The initial net worth was $52.7 billion and the amount gained was $18.5 billion, summing up the total end net worth $71.2 billion.

    Ma Huateng

    Chinese advanced technology billionaire Ma Huateng’s wealth has increased by 53.5% during the pandemic. The beginning net worth was $38.1 billion, it rose to end net worth of $58.5 billion with total amount gained $20.4 billion.

    Mark Zuckerberg- The Founder and CEO of Facebook
    Mark Zuckerberg is famous for Facebook. He was one of the youngest self-madebillionaire just at the age of 23. This year in the month of August, he cameunder the centibillionaire list. He’s an American media magnate, internetbusinessman, and philanthropist. He serves as Facebook’s president, chie…
    StartupTalkyMeghashree Das

    Mark Zuckerberg

    A giant tech company called Facebook, its Founder and CEO Mark Zuckerberg became 77% richer during the pandemic. He donated $180 million to coronavirus charities as of August in 2020, a drop in the bucket for the tech billionaire. The initial net worth was $54.7 billion, which turned into a net worth of $96.8 billion. Gaining a huge amount of $42.1 billion.

    Mukesh Ambani

    The net worth of the Indian billionaire, Mukesh Ambani has increased to around $48.4 billion during the pandemic. He donated $68.32 million of the amount and 0.09% of his total net worth to coronavirus causes. The beginning net worth was $36.8 billion, it became the total sum of $85.2 billion. It makes the gained amount as $48.4 billion.

    Jeff Bezos

    Currently, the richest man in the world, Jeff Bezos, has made most of his profits during the pandemic through his e-commerce site called Amazon. Bezos gave nearly 64.3% of his total net worth to coronavirus causes, which amounts to $127 million worth of donations. The beginning net worth stood at $113 billion and the latest net worth was $185.6 billion, gaining the amount of $72.6 billion.

    Conclusion

    The worldwide billionaires did extremely well during the global pandemic crisis, growing their already-huge fortunes to a new level. Millions and millions of citizens faced great economic desperation, the already rich Billionaires became richer all this while.

    FAQs

    Who is the richest man in the world?

    Elon Musk is currently the richest person in the world with his net worth of $219 billion.

    Has billionaires beme richer in pandemic?

    Billionaires has increased their wealth duric pandemic.

  • Top 26 Recession-Proof Businesses and Jobs That Can Thrive in Any Recession

    What is happening in Ukraine is heartbreaking and makes us realise how fragile our system and everything is. How easily we can be deprived of our daily routines and how we must be prepared for this from the start. Many people have lost their homes, their belongings, and their jobs.

    The conditions are horrifying in Ukraine. Losing everything is scary. One must be fully prepared from the beginning if one wants to be safe during tough times, especially when it comes to jobs. These recent events have opened our eyes and made us realise the importance of recession and war-proof jobs.

    During difficult times such as wars, epidemics, depressions, and so on, recession-proof jobs are ones that are largely unaffected even if all other industries are shutting down or losing employees. With the recent pandemic strike and now the happenings in Ukraine, people are shifting their interests towards these types of jobs, which provide a guarantee of employment and support no matter what.

    This article will define recession, its causes, and provide examples of jobs that are both recessions- and war-proof.

    1. Food and Beverages
    2. Services in the Medical Field
    3. Renovation and Repair Industry
    4. Cleaning Services
    5. Baby Products
    6. Child Care
    7. Consumer Goods
    8. Services for Death and Funerals
    9. Senior Care Takers
    10. Hospice Workers
    11. Educators
    12. Public Transport Workers
    13. Body Shops & Auto Mechanics
    14. Pharmaceutical Technicians and Pharmacists
    15. Law Enforcement
    16. Workers in the Correctional System
    17. Public Utility Workers
    18. Judiciary Workers
    19. Firefighters
    20. Insurance Professionals
    21. Actuaries
    22. Social Workers
    23. Mental Health Experts
    24. Divorce Attorneys, Mediators, & Arbitrators
    25. IT Workers
    26. Bankruptcy Attorneys & Staff

    What is a Recession?

    Simply put, a recession is a period of time when the total global economy experiences a decline. During these times, people lose their jobs, companies go out of business, and there is an overall rise in unemployment. A recession lasts for several months till the situation gets better. The average citizen suffers the most from the recession, as a result of unemployment, rising prices, and a lack of support from higher authorities.

    What causes a Recession?

    There are many causes of a recession like deflation or loss of customers’ confidence in a company, but the major cause is economic shock, which can be due to natural disasters, terrorist attacks, pandemics, or wars. We have just faced a recession due to COVID-19 and now due to the Ukraine-Russia situation. Due to these types of events, a recession can happen and thousands of people can lose their livelihoods, that is why there is always a high demand for recession-proof jobs and businesses.

    Following are some examples of recession-proof jobs and businesses:

    1. Food and Beverages

    Food Business
    Food Business

    One thing that is vital for humans is food. If there are no food industries making food and beverages, then a humane society can not function. That is why even when there is a pandemic and everything in the world is shut down, the food industries are still booming and all the employees are there working. Food for eating and beverages for drinking is not something that can be marketed as unnecessary and put aside during tough times as everyone needs it to be alive.

    2. Services in the Medical Field

    Healthcare Services
    Healthcare Services

    People get sick and different diseases require medical attention, thus there will always be a demand for healthcare services. Survival in these difficult times will be impossible if medical assistance is unavailable.

    Even during a recession, healthcare services will not be interrupted. People require medical attention the greatest during a recession. As a result, the medical business will never diminish. Doctors, nurses, and chemists are all in high demand during such times.

    3. Renovation and Repair Industry

    Repair Services
    Repair Services

    The renovation industry is always needed, no matter what the situation is. Because some things can only be fixed or installed by professionals. For example, if your phone breaks and needs to be repaired right away, it is an emergency that must be handled properly and fast, especially in times of war or epidemic. A mobile phone repair service is the only option.

    Repairing electricity, installing a security system, and upgrading your home for increased safety or to accommodate weather changes all necessitate knowledge and abilities. And after a war, reconstruction of everything that was destroyed due to the war is required. That is why, in difficult circumstances, the renovation and repair industry is critical.

    4. Cleaning Services

    It’s critical to have the finest health possible through difficult times so that you can confront anything that comes your way. And keeping yourself and your environment clean is the best way to stay fit and healthy.

    We, as humans, live in a world where personal hygiene is extremely important, which is why cleaning businesses will never fail or go out of business since people will always buy it. Cleaning materials are a necessity, not a luxury.

    5. Baby Products

    Baby Products
    Baby Products

    Parents cannot make compromises or sacrifices when it comes to their children. That is why, even in the face of adversity such as war or a pandemic, the need for infant products will never dwindle.

    Parents cannot experiment with the items they use on their newborns since they require the highest care and delicate products. If they do, it may result in significant health concerns. As a result, baby products such as diapers, baby food, and baby soaps will always be sold and purchased by the general population.

    6. Child Care

    As previously said, parents cannot make concessions when it comes to their children’s health and well-being. As a result, healthcare for children and those who work with them will always have a career because it is one of the needs in difficult times. Children, who are the most vulnerable, require the most medical attention during a recession, like wars, etc. As a result, child care is extremely important and will continue to exist.

    7. Consumer Goods

    Even in times of war or pandemic, people require basic necessities such as sanitary napkins, toothpaste, laundry detergent, and a variety of other items to be healthy. Whatever happens, these things will continue to be sold, and the people who work in these businesses will continue to have livelihoods.

    8. Services for Death and Funerals

    During COVID-19, there was a surge in demand for funeral services. The funeral sector is the one that blooms the most during any recession, especially during wars and pandemics. Funeral homes are what people resort to when they have to say goodbye to their loved ones because no one can avoid death, and many individuals lose their lives during these difficult moments.

    9. Senior Care Takers

    Elderly Care takers
    Elderly Caretakers

    Tough times like a pandemic or a war can be extremely dangerous for the elderly. And during these times the demands for senior caretakers such as nurses, cooks, cleaners, and other support staff get really high. That’s why it can be a great opportunity for people looking for a job that can pay even during a recession.

    10. Hospice Workers

    The majority of people die in difficult circumstances. Unfortunately, this is the case, but specialists must be available to care for those who are nearing the end of their life. Hospice workers are professionals who care for people who are nearing the end of their lives, which might be due to a terminal illness or old age.

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    11. Educators

    Educators
    Educators

    Whatever the situation, people still need to be educated. Two of the most powerful instruments for overcoming the financial crisis are education and knowledge. Humans, as individuals and as a civilization, must learn in order to survive and contribute to the growth of their community. As a result, teachers and educators in all areas are valued highly and are unlikely to lose their jobs during a recession.

    12. Public Transport Workers

    Public transport is the best way to save money, especially during times of recession. Thus, public transport workers will always have a job and they will be even higher in demand. Even if the economy goes down, the professionals like bus drivers, train drivers, train conductors, and many more, will have their jobs.

    13. Body Shops & Auto Mechanics

    Even though there will be fewer personal automobiles and vehicles on the road, they will need to be repaired. What if you have to travel urgently, perhaps during a war or pandemic? The cars must be in good working order. That is why the auto mechanic position will not be eliminated.

    14. Pharmaceutical Technicians and Pharmacists

    Medicines are needed by all age groups. No matter what’s going on in the world, that is why individuals related to the pharmaceuticals field will never lose their job as their job is vital and plays an important role in a recession.

    15. Law Enforcement

    Law Enforcement
    Law Enforcement

    There will always be a need for police officers, detectives, federal agents, and other law enforcement officers because no one can take their place. Particularly during a recession, those with specialised skills in these sectors will be in high demand as the crime rate might increase.

    16. Workers in the Correctional System

    People working in prisons, parole boards, and other offices won’t be losing their jobs either, as their services are important too. Even in a recession, letting the prisoners out will only increase the problems.

    17. Public Utility Workers

    During a recession, staying connected to your loved ones and the outer world is the only thing that can reduce stress. As seen during the COVID-19 pandemic, one way to keep calm was to stay connected to your loved ones through the internet, phone calls, texting, etc. Different sources of entertainment are also important to keep your mind busy and distracted for a while. And these services are possible because of the individuals working in these fields. That’s why these jobs are never going anywhere.

    18. Judiciary Workers

    Courts will operate no matter what and the people employed there, like judges, lawyers, clerks, sheriffs, etc. all have their jobs intact and won’t lose their job. Even though some courts were closed for a while due to COVID-19, that was to control the contagious disease. Despite that, courts are always operating.

    19. Firefighters

    FireFighters
    FireFighters

    Accidents like fires will happen, and they cannot be predicted. So, in order to control that and save lives, a profession like a firefighter and all jobs related to this field will continue to exist even in a severe recession.

    20. Insurance Professionals

    Insurance Brokers
    Insurance Brokers

    Health insurance is crucial to most people, and they will keep it even in a recession, so there will always be a need for insurance brokers and professionals in this industry. Not only is there health insurance, but there is also automobile insurance, which is required to legally keep your car on the road.

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    21. Actuaries

    Actuaries help businesses cut extra expenses and keep the business running during a financial crisis. Individuals in this field will have their jobs as their services will be needed most by both private and government companies.

    22. Social Workers

    Social Workers
    Social Workers

    Social workers will be needed most during a recession as more and more people will be looking for support. Many people lose their homes and their livelihoods during a recession, which is why social workers and their services are needed.

    23. Mental Health Experts

    Mental Health Expert
    Mental Health Expert

    During a recession, the normal population gets affected the most. That can lead to some serious mental stress that can cause problems, which is why mental health experts are needed during these times. Substance abuse also spikes due to these conditions, so the demand for experts in these areas can get high.

    24. Divorce Attorneys, Mediators, & Arbitrators

    Financial difficulties and stress can cause couples to split up and compel them to make difficult decisions. According to studies, the stress induced by a recession causes a high rate of divorce and separation among young couples. As a result, there will be a demand for divorce attorneys, mediators, and arbitrators to complete all of this work.

    25. IT Workers

    Even during a recession, there will always be a demand for IT workers because the entire world has become digitised and technology is now the driving force behind it. To keep the websites, applications, and other things working, all of the technicians, programmers, and developers will be needed.

    26. Bankruptcy Attorneys & Staff

    Attorney
    Attorney

    During a recession, there is a high rate of bankruptcy. Financial crises are unavoidable. As a result, employees in this profession will not lose their jobs, as there will be a high demand for their services due to the high rate of bankruptcy filings.

    Conclusion

    Wartime situations demonstrate the need of being prepared and have a plan in case things go wrong. Having a job in a war-proof business can provide financial security and perhaps save your life and that of your family. As a result of recent events, more people are looking for recession-proof jobs, which can aid them during a downturn.

    FAQs

    What industries do best in a recession?

    Grocery stores, Funeral services, Educators, Healthcare, Insurance, and Attorneys are some of the industries that do not get hit by the recession.

    What are the top recession-proof jobs?

    Attorneys, Child Care, Elderly care, Law enforcement, Firefighters, and Educators are some of the top recession-proof jobs.

    What investments are recession-proof?

    Gold, Bonds, and Cash are some of the top recession-proof jobs.

  • Growth Of Online Doctor Consultation Market During Pandemic

    In an era, where everything is available at the click of a button it is no surprise that even a specialist doctor or a clinical examination could be done online. Online doctor consultation is a coveted field in India and is able to offer services like telehealth, telemedicine, telecare, and digital health care services. According to the survey conducted by Accenture in 2017, over 70% of the consumers are willing to experience health care services virtually, while 20% have already experienced virtual healthcare.

    Many startup companies are looking to make it in the industry as it is currently rising. The consumer’s expectations for a convenient healthcare system are evolving while the healthcare industry is continuously striving to meet people’s needs with the help of technology. The telemedicine market in India is expected to reach $5.4 Billion by 2025 with a CAGR of 31%.

    The online doctor consultation allows the dissemination of specialized knowledge among the medical community through advanced networks, reviews, emergency medical consultations during an epidemic or crisis among others. According to a report by Practo, online doctor consultations have increased 500% since March 2020, as five crore Indians are now accessing healthcare online amidst the COVID-19 pandemic.

    Telemedicine Industry in India
    Growth of Online Consultation in India
    Importance Of Online Consultation
    Target Audience of Telemedicine Industry
    Future of Telemedicine Industry in India
    FAQ’s

    Best Online Doctor Consultation Apps in 2020
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    Telemedicine Industry in India

    The Telemedicine Industry is expected to create more than $5.4 billion market opportunities by 2025. Practo, DocPrime, mFine, CallHealth, and Lybrate are some of the leading startups in India’s telemedicine market. The COVID 19 outbreak has created many challenges in traditional healthcare systems, as citizens have not been able to consult with the doctors physically.

    This situation has led the government to change the regulations around remote delivery of healthcare services and allow telemedicine via video, audio, or text. Telemedicine will not only help these startups address the spread of Coronavirus but also improve access to healthcare in rural areas. Innovative technologies are allowing health organizations to enhance access and reduce the burden on hospitals through real-time consultation with doctors through online services.

    top doctor consultation sites in India
    top doctor consultation sites in India

    Telemedicine will reduce the time of consultations and improve the quality of healthcare services in rural areas, removing many infrastructural challenges. The World Health Organization (WHO) recommends every country to have a ratio of 1:1000 doctor to patient ratio, India only has one governmental doctor for every 1,139 people.

    According to a report, India has a shortage of 600 thousand doctors and 2 million nurses. This leads to limited face-to-face consultations among patients. Secondly, India also has a shortage of hospital beds, which makes hospitalization difficult and there needs to be better infrastructure and facilities whereas with the help of online consultations the healthcare sector can reduce its problems.

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    Growth of Online Consultation in India

    Online consultation has become popular in India because it is easier and safer to access healthcare via call, video, chat with doctors, especially during the COVID-19 pandemic. The health ministry has urged people to take advantage of telemedicine services during the lockdown. And since then the usage of online consultation apps and medicine delivery services has been on the rise.

    The pandemic has encouraged people to use the platform and consult a certified medical practitioner rather than resorting to self-medication. Online consultations are known for specialties such as Gynecology and Dermatology, while other specialties like mental health, pediatrics, ENT, ophthalmology, and gastroenterology are all well-known departments.

    The growth of telemedicine in India
    The growth of telemedicine in India

    The telemedicine sector is steadily increasing not only across metropolitan cities but also in smaller cities like Hoshiarpur, Karnal, and Durgapur. The online doctor consultation platform mFine is seeing demand from states which has a low doctor-to-patient ratio since lockdown. The app has also seen new user signups and consultations from users in states such as Bihar, West Bengal, Jharkhand, and Uttar Pradesh where the doctor-patient ratio is the lowest in the country.

    Many other healthcare startups are seeing an unprecedented surge in demand as they shift healthcare delivery onto the internet, promote telemedicine, encourage online medicine bookings and use chatbots to answer patient queries. The support rendered by the national and state governments, their subsidiary concerns, and allies such as the ISRO have contributed a great deal to facilitate the development of telemedicine as a well-recognized field.

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    Importance Of Online Consultation

    India has seen a tremendous increase in demand for telemedicine for healthcare services. According to Statista, the industry might have touched $280 billion by the end of 2020. Though the healthcare sector is seeing a giant leap in providing services to consumers, it has still not been able to expand its market in rural areas. Around 75% of the rural population is struggling with insufficient infrastructure and technological awareness. This is the reason why online consultation might help overcome this issue.

    • Bringing quality healthcare services to the rural areas of the country.
    • Benefits the people of rural areas in bringing down the disparity in healthcare offerings between the rural and urban areas.
    • Provides access to qualified healthcare providers, specialized consultation, accurate prognosis, timely diagnosis, and effective course of treatment.
    • The people of urban areas, who have access to world-class hospitals and treatment facilities but don’t have the time can seek help by online consultations.
    • The patients can have real-time interactions through video conferencing solutions, or store and forward models which can capture patient and disease-related information through dictation, photos, videos, radiology, etc.
    • The patients can get the benefits of an actual visit to the doctor without having to do so.
    • Not just consultation and treatment, but many other services can be fulfilled through telemedicine, which brings together the best of both worlds – medicine and telecommunication.
    • It helps in the dissemination of specialized knowledge among the medical community through advanced technology and peer-to-peer reviews.
    • It’s very useful for emergency medical consultations in times of an epidemic or crisis.
    How to provide a great online consultation experience

    Target Audience of Telemedicine Industry

    • People who are willing to try telemedicine.
    • Application developers and network operators.
    • Third-party suppliers and healthcare service providers.
    • Potential Investors.
    • Government organizations.
    • Research Institutes.

    Why COVID-19 is Game Changer for Online Businesses
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    Future of Telemedicine Industry in India

    With the growing attention for telemedicine services, countries around the world are developing a regulatory framework for the industry. While India is already one of the top 10 countries in telemedicine marketing the world, the adoption of a regulatory framework will help the segment grow rapidly.

    Tattvan Mishra, founder, and CEO of Tattvan E-Clinics said that “India has seen considerable growth in the telemedicine sector however, the growth was not rapid due to the lack of proper guidelines and regulations. In the coming years, I expect a high investment from the private sector in the field of telemedicine. I think the telemedicine industry has a bright future and may become a multi-billion industry in the next 3-5 years.”

    Online consultation platforms have supported the healthcare needs of Indians at a time of lockdown. Saurabh Arora, the founder and CEO of Lybrate in a press statement said that “It is the need of the hour to contain the spread of the virus. The healthcare burden on the country is gigantic around this time and platforms like ours can definitely help share it. People can consult doctors on Lybrate across specialties and so on other platforms, letting hospitals tend to more serious patients”.

    Besides telemedicine, other health-tech segments such as online pharmacy, medical technology, and medical devices have also called for increased regulatory clarity so that startups can focus on the model rather than tweaking their operations. When it comes to the online consultation market, the COVID 19 crisis could bring about a lot of clarity and growth just like the fintech sector got a push in India after the demonetization in 2016.

    FAQ’s

    1. What is an online doctor consultation or online medical consultation?

    When you visit a doctor about your health-related issues through an audio/video/chat, it is called an online doctor consultation or online medical consultation. This is an alternative for you when you cannot visit a doctor physically at the clinic or hospital.

    2. How do I consult a doctor online now?

    Book an online consultation either on the website or mobile app. Look out for the ‘Find a Doctor’ button on the homepage of the website/app, select the specialty of your problem or type the name of the doctor directly. Once the doctor of your specialty is selected, you can click on the “Consult Now’ button to start with the online consultation.

    3. Do you provide online doctor consultation for emergencies?

    No, it is not recommended. It is advisable to contact emergency services during emergencies. Emergency medical services are available round-the-clock which can be accessed by calling 112 or clicking the ‘Emergency’ tab on the homepage of the respective website/app.

    4. Where is my prescription for the online doctor consultation?

    Prescription for your online consult can be found in the Records/History section. By clicking on this tab, you will be able to view/download your prescription.

    5. Is it safe to consult online?

    Online consultation is absolutely safe and private, where customer information and health data is the most important thing that is kept private.

  • Travel and Tourism Industry Trends in 2021: Post-Pandemic

    Covid-19 has completely disrupted the Travel and Tourism Industry at both the national and international levels. With the worldwide lockdown and the heavy travel restrictions, the industry has lost not only domestic and international tourists but also local visitors. According to the United Nations World Tourism Organization (UNWTO), International tourism has witnessed a loss of $1.3 trillion in 2020 while the Indian tourism industry saw a revenue loss of ₹1.25 trillion, as per the CARE Rating study.

    The pandemic has impacted all divisions of the tourism industry such as inbound, outbound, corporate, MICE, adventure, and leisure and will continue to underperform for the next two quarters. Tourism will account for 9.9% of the country’s GDP by the end of this decade with the help of Government initiatives.

    The losses to the Indian Tourism Industry in 2020 have been huge but 2021 shows the revival of travel with the rise in vaccination. Significant changes were observed in traveling like more emphasis given to safety, cleanliness, and hygiene. The states that are getting the maximum tourists are Himachal Pradesh, Uttarakhand, Rajasthan, Goa, and Kerala.

    Also Read: List of Top Travel Startups in India (2021)

    Travel and Tourism Trends
    Travel and Tourism Industry in India

    Post-Covid scenario in the Travel Industry
    Growth of Domestic Tourism in 2021
    Travel Industry Trends in 2021
    Recommendation to get Travel Industry on Track
    FAQs on Travel & Tourism Industry

    Post-Covid scenario in the Travel Industry

    Ever since the Covid-19 Pandemic had arrived, the tourism industry started evolving and changing ways in order to suit the needs of travelers. With the reduction in Covid cases in India, the Central and State Governments of the respective states have issued many standards and basic operating procedures in order to resume services. Major protocols are being taken as the security scan at the entrances of various locations like hotels and airlines involving thermal screening and sanitization and the staff is even extra cautious than before.

    The Post-Covid Scenario of Tourism Industry

    Many countries around the world are catching up with innovative solutions and activities to boost their country’s travel industry. Some of them include safe travel bubbles, SG Clean, Qatar Clean initiatives. Many travel agencies are now providing incentives, offers, and discounts to get people to travel. Understanding the solutions and practices being followed in different countries will help India in implementing the right strategies for the survival and revival of its tourism industry.

    Many services have turned contactless and are following all major protocols of safety and social distancing. Simpler activities like live cooking, disposable cutlery, online food delivery services, and digital menus aids in the growth of the industry. The hotel, restaurants and resorts are following strict SOPs for Covid-19 to create a protective environment. The government is also providing relaxation against free loans, provident fund relief, and GST.

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    The Growth of Domestic Tourism

    The relaxation in the lockdown along with the gradual lifting of travel restrictions shows constant opening and closing of travel make tourists feel uncomfortable to travel internationally. But 2021 saw an increase in domestic tourism, while foreign tourism is expected to remain low until the situation improves. One of the main reasons for the future boom in the domestic sector is that travelers in 2021 prefer to explore their own country and go on short weekend trips.

    Sectors of tourism affected by covid-19
    Here’s a look at the most affected sectors of tourism due to pandemic

    Hence, increases the sightseeing of remote destinations and helps the locals to get their livelihood back. This, in turn, boosts the local economy, creates more jobs, and helps the hotels and restaurants of the region, promotes local art handicrafts and culture. With more importance given to safety and social distancing, tourists think that it is safer to travel shorter distances than compared to the longer ones. This is why many people are opting for short road trips to unknown destinations with less crowd.

    The domestic vacation is now on top of the traveler’s bucket list for 2021. Just the first week of January 2021 saw 70% of users booking for future domestic trips on Tripadvisor. In the US, over 74% of travelers preferred to go on an overnight domestic leisure trip in 2021, and over 34% are planning domestic trips, which is quite high as compared to other countries like Australia (31%) and UK (24%).

    So let’s take a look at the 2021 travel industry’s trends that are likely to show up in the future.

    Workation Trips to Increase

    Work plus vacation or business plus travel is not a new concept that has arrived in 2021. But the business travelers are said to be rising in 2021 because many companies are opting to work from anywhere culture. This is why they have come up with brilliant travel plans that will help employees work along with leisure. Employees also have the option to bring their family members. The concept of business travel is getting popular as people have started to realize that all people need is electricity and a good internet connection to work.

    Workation Trips | New trend
    Work plus vacation has become a latest trend now

    Road Trips are the New Trend

    With many restrictions and travel bans, people have started opting for short road trips. Many tourists have started avoiding public transport like buses, trains or even airlines. Instead, they plan to go on road trips in their own vehicles or rent a car, as it is a safer option. Road trips are popular among tourists of all age groups and families. In addition to that, it reduces the travel expenses and vast options of destination to choose from.

    Road Trips is a new travel trend
    Road Trips, a budget-friendly option for travelers to travel around the city 

    Promotion of Sustainable/Eco-Friendly Tourism

    The pandemic has made people realize the importance of implementing sustainable ways of traveling. The tourist now is looking out for eco-tourism to get in touch with nature. In 2021, tourist focuses on responsible travel to remote locations or natural areas in order to experience the local culture and contribute towards the sustainable growth of environment. Tourists have become more conscious nowadays and are accepting more eco-friendly methods to reduce their carbon footprint.

    Sustainable Tourism in 2021
    Sustainable Tourism has become traveler’s best choice for embracing the nature

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    Research Before Travel

    Travelers are keen on researching more before making any travel plans. With Covid-19, it’s no surprise that people are more conscious to travel. According to a survey, more than 74% of the global tourist population say that they will spend more time researching everything about their destination. People are spending more time in reading reviews or checking for better accommodations before planning any itinerary.

    Post-vaccinations Impact on Travel

    With the rise in vaccination drive, the travel industry has started blooming. People have started planning their trips as they’re excited to finally be able to travel carefree. The new travel protocols, however, will include compliances for travelers including Immunity passports for tourists to provide proof that the tourists are vaccinated for the virus. More than 77% of global travelers likely to agree to travel internationally only after getting vaccinated.

    Why Travelling Will Never Be The Same

    Solo Travel is the Way

    Solo travel or even backpacking has grown exponentially with the pandemic. Co-living is also another new trend related to solo traveling. It is when solo travelers are looking to save money and time by getting out of their comfort zone and meeting other solo travelers while traveling. Solo travelers involves themselves in activities that includes social distancing.

    Solo Travel
    Solo Travel has become a new travel industry trend

    Safety and Cleanliness are the Priority

    Safety and cleanliness have become priority for travelers across the globe since Covid. And the travel industry is already implementing major guidelines and protocols including PCR tests on arrival, mandatory masks, sanitation, and frequent cleaning in different sectors like hotels, airports, restaurants, etc. to provide a safe environment.

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    Recommendation to get Travel Industry on Track

    Many experts in the field have given their recommendations on how to get the industry back on track. Some of them include:

    • Airlines, hotels, restaurants, and other tourist operators can adopt greener and eco-friendly solutions in order to increase their business while being sustainable.
    • The industry must encourage renewable energy and green project to help the environment.
    • The government must try helping the industry with interest-free loans for up to 5 years which makes it sustainable.
    • Implement compulsory masks everywhere and basic social distancing laws and regulations.
    • Promote lesser-known tourist destinations of India.
    • Make it easier for the tourist sectors to get licenses, permits, and renewal.
    • Reduction of GST rates in the travel and hospitality sector.

    FAQs on Travel & Tourism Industry

    The top travel industry trends in 2021 are:

    • Workation Trips to Increase
    • Road Trips are the New Trend
    • Promotion of Sustainable/Eco-Friendly Tourism
    • Research Before Travel
    • Post-vaccinations Impact on Travel
    • Solo Travel is the Way
    • Safety and Cleanliness are the Priority

    Which one sector is going to see a rise in tourism in 2021?

    2020 has completely disrupted the travel industry but 2021 is showing the revival of travel. The tourism sector will be very different than what it was before. The domestic sector is witnessing a surge as people are avoiding foreign travel and the situation is going to remain the same till the pandemic is over.

    What are the SOPs followed by the tourism industry in India?

    The SOPs followed by the tourism industry in India are security scans at the entrances of various locations like hotels and airlines involving thermal screening, wearing masks, sanitization, and social distancing.

    What is the fastest-growing trend in the travel industry?

    Eco-friendly/Sustainable tourism is one of the fastest-growing trends in the travel industry.

    Is the travel industry growing?

    The travel industry will slowly and gradually see a surge in the traveler once the pandemic is over. Currently, domestic tourism is growing at a slower pace. The reason being, people are feeling bored to remain at one place and therefore planning short trips.

  • How Increase In Fantasy Gaming Startups Are Changing The Gaming Industry

    In the year of 2020, online fantasy gaming has gained a strong foothold within the Indian entertainment Industry. Our country now has a projector user base of 628 million gamer’s which gives boost to the gaming ecosystem within the Indian economy. This ecosystem contains of a variety of gamers of all ages, game designers, developers, investors and marketers all working together to come up with the latest cutting edge games. All this has made India to be the top contender among the top gaming markets amongst the emerging global economies. At present there 400 gaming startups in India with whooping number of 500 million smartphone users.

    Statistics of Online Gaming in India
    Online Fantasy Sports Gaming
    Fantasy Gaming Startups During a Global Pandemic

    Statistics of Online Gaming in India

    • According to a report released by boutique investment bank Maple Capital Advisors the online gaming industry in India is growing at a rate of CAGR of 22%.
    • The reports also claim that the Industry is expected to grow 41% yearly due to the growth of digital infrastructure and rise in the quality of gaming content.
    • The gaming Industry is set to be valued at $3, 750 million by the end of 2024.
    • India’s online gaming industry has already attracted $350 million in investments from venture capital firms between the years 2014 to 2020.
    • The report highlights that the three key segments of online gaming are Real Money Games (RMG), Mobile centric or casual games and E- sports such as Counter strike, DOTA 2.
    • The E-sports federation of India reports that 264 million Indian gamers and the competition prize money is increasing annually.

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    Online Fantasy Sports Gaming

    When it comes to online fantasy sports gaming it gained a lot of popularity in India as another genre of online gaming, where sports fans can create their own team out of the real life players from the upcoming matches with specific conditions and environments. The fantasy sports gaming in the Indian market is expected to reach over $5 billion in the Equity Investors. Cricket by far is the most popular as 85% of users engage in this sport, while the other sports that Indians venture into are football, basketball and kabbadi. Online game companies have risen up to 275 in 2019 which is a huge increase considering there were only 25 startup companies in 2010.

    facts on online sports gaming
    Facts on Online Sports Gaming

    Because of this new booming industry many job opportunities have opened up in a non-conventional sectors such as tech oriented careers and game development which king of new in India. From just a handful of companies until few years ago, there are an estimated 60 fantasy sports platforms in India at present. India also recently got its first Gaming Unicorn called Dream11 is known to be changing ways in the gaming Industry. Let us learn on how exactly the company is doing that.

    Dream11

    Dream11 is a Mumbai based fantasy game startup which was founded in 2012 by Harsh Jain and Bhavit Sheth is now backed by Tencent making its value $1.1 billion after its successful fundraiser from Steadview Capital. According to a report by the Indian federation of Sports gaming, Dream11 is currently occupies 90 percent of the domestic fantasy sports market. Dream11 has an overall user base of 51 million with about 15% of them being the paid players.

    The CEO of the company, Harsh Jain says that the times are changing in the fantasy gaming industry as the competition is increasing and so is the higher cash rewards at stake. The company became a trend because of cricket game which coincided with the India Premium League in 2008 and became its sports partner until 2022. Now the company offers an array of sports such as Football, Carom, Pool, Kabbadi, Basketball, Badminton and Hockey for the gamer’s to pick from. With the advent of 4G mobile services provided by Reliance Jio, fantasy gaming has become popular along with services in India.

    IFSG says that two out of three sports fans in India are aware of fantasy gaming today and an estimated 100 million more will join by downloading any of these platforms or their fantasy apps by 2020.The reason to the success of Dream11 is because it allows its users to create its own imaginary teams and earn cash based on selected players actual match performance. Every move made by the gamers gets them cash rewards, while the company also pockets 15 to 20 percent of the winnings. This Mumbai based startup is looking to double its user base to 100 million by 2020.

    The logos of Dream11 and Mobile Premium League (MPL)
    The logos of Dream11 and Mobile Premium League (MPL)

    Mobile Premium League (MPL)

    Mobile Premium League is a Bengaluru based startup and is the fastest growing fantasy sports platform which has also achieved #1 app in the casual section of the Google Play store India. MPL was founded in 2018 by Srinivas Kiran Garimella and Shubham Malhotra who are also the founders of Creo which was brought over by Hike in 2017. Mobile Premium League is funded by Sequoia making it the latest startup in India fantasy sports market.

    The company is growing at the speed of light as it now has 10 million users in 7 to 8 months. The app based platform allows fans to compete in skill based sports and win the real rewards. Indian team captain Virat Kohli is its brand ambassador with a deal reportedly at Rs 12 crore. It is rumored that Indonesia Go-jek is looking to invest $30 million in MPL.

    Fantasy Gaming Startups During a Global Pandemic

    Due to the nationwide lock down, people who are staying at home are turning to gaming platforms to kill their boredom. These platforms are provided by these startup gaming companies in order to attract hundreds and thousands of new visitors in online traffic. Many land-based casinos have switched to online platforms and discounts and bundle offers are being promoted online by gaming companies and online gaming stores to encourage people to play video games.

    According to Ranjana Adhikari the co-head of media, entertainment & gaming at Nishith Desai Associates, “We also saw a 24% increase in traffic for online gaming between February and March. India is a developing nation, but during lock down it has seen an acceleration of people moving to online in general and getting used to it. While wider regulation might still be a way off, the pandemic might have accelerated this process.’’

    In view of these new trends the importance for self-regulation within this Industry cannot be emphasized enough especially when it comes to responsible gaming which is still a new concept in India than compared to other countries like US. Further regulation would help with pushing gaming companies to talk about gaming responsibly via information on identifying gaming addiction and how to manage it, implementing self-checks, timeouts and even limits upon their accounts.

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    FAQs

    What are fantasy games?

    A fantasy sport is a type of game, often played using the Internet, where participants assemble imaginary or virtual teams composed of proxies of real players of a professional sport.

    How much does it cost to start a gaming company?

    From initial incorporation ($500, excluding lawyer costs) to equipment ($3,120 per person, including $800 per PC) and salaries (roughly $3,250 per person), running a relatively small studio is a cash-drain, even before you throw in legal and accounting fees, advertising, and the cost of attending conferences.

    Is MPL safe?

    Yes

    What are the top gaming companies in India?

    • Hyperlink InfoSystem
    • Zensar Technologies
    • Infosys
    • TCS
    • Fgfactory
    • Orangesoft
    • Unanimous Studios

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  • An Overview Of The Online Pharmacy Industry In India

    With the lockdowns restrictions brought over by the Covid Pandemic, most economic activities were paused, millions lost their job and many industries faced difficulties. But there were also some industries like Online gaming, Online grocery, Fintech, Telemedicine, Ed tech, online media that were boosted due to the pandemic. Another such industry that increased two fold is the e-pharmacy or online pharmacy industry.

    The e-pharmacy sector in India has grown because of the increased accessibility during a pandemic and many upcoming players like NetMeds, 1MG, EasyMedico and MedLife, Apollo Pharmacy. In 2019, the global e-pharmacy market is estimated to be more than $69.7 billion and is expected to grow 17% to more than $244 billion in 2027.

    Which is why 2021 is the year for the industry, as the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022. The sector is also attracting many investors as over 70% users are willing to use e-pharmacy post the pandemic, according to RedSeer survey.

    In 2020, Covid 19 has pushed many consumers towards buying their medicines online. A report also shows that over 60 to 70% of the medicines that are ordered through e-pharma platforms are from chronic patients as it more affordable and accessible for them. The growth of e-pharmacy in India is evident due to the positive experience coupled with stronger adoption among low-income households.

    The E-pharmacy Industry in India
    Reasons behind the growth of the E-pharmacy Industry in India
    Benefits of E-pharmacy in India
    Challenges of the E-pharmacy Industry
    Top 6 e-pharmacy apps/websites in India
    Frequently Asked Questions

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    The E-pharmacy Industry in India

    Nowadays, many online industries are growing as people in the country are adapting to e-commerce rapidly with mobile first consumer behavior and improved digital payments infrastructure. In developed countries of North America and Europe, e-pharmacy is a flourishing market and is also structured, where the medicines are prescribed by doctors and tracked through barcoding to ensure systematic supply.

    In India however, we have over eight lakh pharmacies, with pharmacies available every few kilometers.  The e-pharmacies and healthcare companies have only recently grown in India because of Covid 19, improved Internet reach and smartphone penetration. The Indian e-pharmacy industry is some of well-known names in the market are Netmeds, EasyMedico and MedLife.

    The growth of e-pharmacy in India

    They are many startups that have also come up in the industry such as 1mg, Practo and Myra, even big retail stores like Apollo pharmacy have introduced their e-pharmacy segment.

    In Indian pharmaceutical market is the third largest in terms of volume and 13th largest in terms of value. According to EY, the online pharmacy market in India is estimated to reach $2.7 billion by 2023 from $360 million which it is currently at.

    In India, the retail pharma market is divided into 3 broad segments which are generic drugs, over the counter (OTC) drugs and patented products. Some of the country’s largest conglomerates and multinational e-commerce companies are looking to invest and get a foothold in this sector. For example Amazon has recently invested over $100 million in the largest Indian pharmacy chain Apollo Pharmacy.

    In 2020, Reliance Retail invested Rs 620 crore to get a majority stake in Netmeds which is a chennai based startup. Tata group also acquired a a major stake in 1mg, while LGT Group and CDPQ the Canandian pension fund acquired Medlife in 2020. Even Pharmeasy is backed by the Singapore Temasek Holdings along with TPG a private equity firm from US.

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    Reasons behind the growth of the E-pharmacy Industry in India

    Internet reach and smartphone penetration

    In 2021, India has a wider internet reach because of the affordable prices of the smartphones and deployment of 4G provided by telecom providers like Reliance Jio. According to a report the number of internet users in India is said to reach 600 million by 2025. The government has also launched Digital India Program which is helping in improving broadband connectivity across the country.

    Government initiatives

    The Digital India Program was started by the government to digitally connect every corner of India including the rural areas and remote villages with high speed internet. The aim of this campaign was to empower citizens to gain knowledge and use the government services easily and to make people interact with the government.

    Along with that, the Jan Aushadhi Program is introduced in order to ensure that the general population has access to quality and affordable medicines.

    Top pharma companies in India

    The increased preference towards online shopping

    In the times of global pandemic, online shopping has gained a lot of popularity. This is because it is more convenient to get products delivered at home, while abiding the lockdown restrictions. Online shopping for essentials and medicines is growing at a fast pace.

    Growing awareness about fake drugs

    E-pharmacy has more stringent tracking mechanism when it comes to eliminating middlemen and the risk of counterfeit and sub-standard drugs.

    The change in the disease patterns in India

    In the last 25 years, the focus has shifted from communicable to non-communicable diseases. The disease pattern has shifted towards chronic diseases which has also lead to the increase in the demand for daily medicines. E-pharmacies provide medicines to the chronic disease patients at a lower cost than compared to retail pharmacies.

    Better healthcare financial services

    There has been a steady growth in the Indian financial industry, there are now better options for health insurance policy, life insurance policy, family and retirement plans, cashless claims and ease of accessing them online. These services have increased the healthcare spending which, in turn, has benefitted the online pharmaceutical industry.

    The increase in domestic demand

    There is an increase in the domestic demand because of growth of in capita income, changes in lifestyle due to urbanization and rise in literacy levels. Which is why the demand for advanced medical treatment is expected to increase along with the demand for pharmaceutical products.

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    Benefits of E-pharmacy in India

    Convenience for consumers

    E-pharmacy is more convenient than compared to retail pharmacy stores especially in the time of a global pandemic as the people can order their medicines from the comfort of their homes through any gadget that supports internet. This is also helpful for the elderly and patients that may not be in a condition to go find a pharmacy store.

    Increased accessibility

    Some medicines are hard to find in retail pharmacy stores, which is why e-pharmacy makes it more accessible to find those medicines. Retail Pharmacy only have limited stock and are expensive making it difficult for the people from the rural areas to buy medicines. E-pharmacies make it more accessible for the rural population to buy medicines.

    Benefits of E-pharmacy
    Benefits of E-pharmacy

    Lower cost

    The biggest advantage of e-pharmacy is that it provides medicines at a lower cost because it has small working capital, less overhead costs, increasing margins.

    E-pharmacy provides improved information

    E-pharmacies usually provide value added information to consumers such as the side effects, medicine reminders, information on cheaper substitutes. It also links it to medical resources like universities, government agencies and other health association.

    Authentic medicines

    All medicine purchases through e-pharmacy platforms are stored digitally, making it easy to track the supply chain. This reduces the risk of fake medicines, drug abuse, and even self-medication.

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    Challenges of the E-pharmacy Industry

    The e-pharmacy market in the country is unregulated, this is because of the absence of a clear regulatory framework from India’s policymakers. The industry must be regulated because it involves the health of people.

    The investors who invest in the e-pharmacy companies are also concerned about the lack of regulations in the sector. This is why a set of regulations for e-pharmacy must be implemented at the earliest.

    Lack of technical Infrastructure

    The key factor behind the success of any industry is a strong technical infrastructure. Even though smartphone and internet penetration rates are increasing, the rural population still don’t know about e-pharmacy and how to use it.

    No awareness in the rural areas

    There is huge gap between the rural population and online services like e-pharmacy. This is because people in the rural areas and remote villages lack internet connectivity and still don’t have gadgets that can access internet leading to poor connectivity.

    E-pharmacies is unfavorable in the times of emergency

    The one disadvantage of e-pharmacy is that when medicines are needed in emergency retail pharmacies, as e-pharmacies take more time from ordering to the delivery of the medicines. Hence why e-pharmacies are more suited for pre-planned purchases only.

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    Top 6 e-pharmacy apps/websites in India

    Netmeds

    Netmeds is currently one of the biggest players in the e-pharmacy industry. It provides a huge variety of medicines, healthcare products and drugs. It is one of the most popular Indian website to buy medicines online.

    The company was founded in 2015 and now has a pan India presence, offering prescription, over the counter drugs and wellness products. The customers can set up their subscription for the medicines to be delivered every month and buy healthcare products such as skincare, family care, and baby care among others.

    Practo

    Practo is one of the most reliable online medical stores. It also has a huge catalog of medicines and healthcare products. The app offers its services to more than 100 cities and also connects millions of patients with thousands of healthcare providers around the world.

    The company was founded in 2009 and has over 1,00,000 listed doctors from 310 towns and cities. The app also offers its customers to have an automated prescription refill option, allows them to check their medicine order and reorder what they want.

    Top e-pharmacy websites in India
    Top e-pharmacy websites in India

    1mg

    1mg is the country’s leading digital consumer healthcare platform. This app offers its delivery services to more than 1000 cities across the country. Its customers can order medicines and health products through the website and get it delivered at home from licensed pharmacies.

    It also provides accurate and trustworthy information on medicines. The best part about the app is that the customers can enter the names of the medicines needed and get cheaper alternatives with the same compound. The app also offers health tips according to the medicines you order.

    PharmEasy

    PharmEasy is a well-known health tech startup that offers services such as online doctor consultation, medicine deliveries and diagnostic test sample collection. PharmaEasy offers more than 1 lakh products and even delivers it within 24 to 48 hours across 1.2k plus cities all across India. The app allows schedules reminders monthly and even cash on delivery services.

    Apollo Pharmacy

    Apollo Pharmacy offers more than 5000 products in various categories online and is also accredited an international quality certification. Apollo pharmacy over 3500 plus offline pharmacy outlets across the country.

    The advantage of ordering medicines from Apollo is that the customers can order it 24/7 and get the medicines delivered on time and at their doorstep.

    Medlife

    Medlife is another popular online pharmacy in India that was founded in 2014. Medlife is easier for ordering medicines as the customers can just upload their prescription, confirm it on call and get the medicines delivered at their doorstep. If the customer does not have a prescription, they can also consult a Medlife doctor.

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    Frequently Asked Questions

    What are the top 6 e-pharmacy companies in India?

    Netmeds, Medlife, Apollo Pharmacy, PharmEasy, and Practo are the top 6 e-pharmacy companies in India.

    What are the challenges faced by the E-pharmacy Industry in India?

    E-pharmacies is unfavorable in the times of emergency, No awareness in the rural areas, Lack of technical Infrastructure and Legal challenges are some of the challenges faced by the E-pharmacy Industry in India.

    What are the benefits of E-pharmacy in India?

    Convenience for consumers, Increased accessibility, Lower cost, Improved information e-pharmacy and Authentic medicines are the benefits of E-pharmacy in India.

    What are the reasons behind the growth of the E-pharmacy Industry in India?

    Internet reach and smartphone penetration, Government initiatives, The increased preference towards online shopping, Growing awareness about fake drugs, The change in the disease patterns in India, Better healthcare financial services and are the reasons behind the growth of the E-pharmacy Industry in India.

    How big is the e-pharmacy industry in India?

    In 2021, the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022.

    Conclusion

    With the current situation of the global pandemic and the changing seasons, online pharmacies are the best option to buy your medicines. As the people will not have break the lockdown restrictions and go out to buy medicines from the local medical store.

    Online pharmacies are more convenient as the medicines are delivered safely and at the comfort of your home. E-pharmacy is cheaper than compared to the retail pharmacies and it’s also offers discounts and cashback. The industry is said to increase two-fold in coming years and become one of the biggest industries.

  • Startups That Are Funded By Aishwarya Rai Bachchan

    Over the past few years, there has been an increasing number of Bollywood stars trying to do different things to give their career a whole new direction. Some celebrities are investing in startups that align with their interests in order to enter the technological space that is booming in India.

    In 2020, many celebrities like Alia Bhatt, Suniel Shetty, Shilpa Shetty Kundra, Madhuri Dixit Nene, Anushka Sharma, Katrina Kaif, Deepika Padukone and Sonu Sood have become angel investors to upcoming startups that have potential especially during the hard times of global pandemic.

    While some celebrities have become entrepreneurs themselves and are leaving no stone unturned to get into the competitive business world. The latest inclusion in the list of actors turned investors is a world renowned actress, Aishwarya Rai Bachchan.

    Aishwarya Rai Bachchan is an Indian actress, who was also crowned Miss World in the year of 1994. The former Miss World is one of the most influential celebrities in India and is a recipient of Padma Shri by The Government of India and The Ordre des Arts et des Lettres by the Government of France.

    She is also regarded as the most beautiful woman in the world, often times by the media. The actress is known for work in movies like Devdas, Hum Dill De Chuke Sanam, Jodhaa Akbar, Mohabbatein, Enthiran, Ae Dil Hai Mushkil, among others. But besides that she is also known for her humanitarian work as she is also the Goodwill ambassador for UNAIDS.

    Aishwarya is now an angel investor to a company known as Ambee, which is an environment intelligence startup. The actress has also recently funded in a nutrition based healthcare startup called Possible. This is however, not her first investment as she had also funded in a wind power project in Maharashtra over ten years back.

    Possible
    Ambee
    Frequently Asked Questions

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    Lets look at the Startups Funded By Aishwarya Rai Bachchan

    Possible

    Possible is a nutrition based startup earlier known as Truweight Wellness which was founded by Vishnu Saraf and Megha More in 2015. The company offers research driven nutrition service and healthy food products through its website. It also helps in leading a sustainable health, wealth loss and management of lifestyle diseases.

    The startup claims to help over 40 thousand people in losing weight and managing diseases and aims to transform lives of more than 10 million people by helping them fight Lifestyle Disease.

    founders of Possible, Vishnu Saraf and Megha More
    Founders of Possible, Vishnu Saraf and Megha More

    The website has over 50,000 success stories with more than 100 nutritionists and doctors and sells more than 50 super foods. The company excels in providing services and products to Combat Obesity, Thyroid, PCOS, Diabetes’s and others.

    The company offers a wide variety of services like video tutorials, personal nutritionists, online consultations with doctors, customized meal plans, super foods including a tech based scientist’s analysis with constant mentoring. The strategy of the company is to provide physician supervision by an ayurvedic doctor, a personal health coach that will guide you in dietary habits.

    The healthcare startup also offers a Pocket clinic to get on spot advice from doctors and a wide range of nutrient rich food products that are designed by food scientists.

    Possible aims to helps people live a long life by converting their own kitchen into a pharmacy and using food as their medicine. Which is why the startup managed to raise Rs. 5 Crore from Aishwarya Rai Bachchan as a part of a larger funding round which raised over Rs. 15 Crore in total.

    Possible is also backed by Blacksoil and Kalaari Capital and has also offered letters to raise Rs. 6.69 Crore from six investors. There are over 90 million health conscious people in Indian by 2018, which is expected to reach 130 million by 2022, according to the Redseer report.

    With Covid 19 Pandemic, the customers in the country are becoming health conscious and are preferring to eat healthy food to build their immunity.

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    Ambee

    Ambee is a well-known Bengaluru based, environmental intelligence startup that makes a mobile box which measures particulate matter and high density to better analyze and predict immediate timely emergency warnings.

    The company provides data on hyper local air quality for developers, consumers, health researchers and media companies. The company aims to measure the quality of air around the world, the ration sources of emissions, create emission inventory not just for urban but even in rural places around the world.

    Aishwarya Rai Bachchan funding Ambee

    The company was founded by Akshay Joshi, Jaideep Singh and Madhusudhan Anand in 2017. Ambee provides solutions for indoor air quality of different places like offices and commercial spaces like malls, hotels and cinemas, etc.

    The platform helps its users make informed decisions or take preventive measures by providing data and analytics in the times environment distress. The data that the company provides includes sensor data, weather patterns, traffic data, ratio of diesel to petrol vehicles and even contextual data such as road repair, garbage burning and density of diesel generators.

    The company monitors air quality with data through 100 sensors that has already been installed across Bengaluru. India has over 14 out of 20 of the most polluted cities in the world. According to World Health Organization (WHO), more than 10% to 50% of the indoor environments in countries like North America, Europe, Australia, Japan and India are polluted.

    India has also witnessed a sudden growth in the number of cleantech/air purifier startups like Nanoclean, Clairco, Phoenix Robotix, Chakr Innovation, etc that are trying to solve India’s energy and pollution issues.

    They have a variety of air quality monitors that can track a wide variety of pollutants and real time analytics in order to ensure that spaces know what people are breathing at that time and take corrective actions where necessary.

    Which is why Aishwarya Rai Bachchan along with her mother Vrinda KR invested over Rs 50 lakh each at Ambee. The IoT startup has so far raised over Rs. 3.22 Crore from multiple investors Techstarts Bangalore, Touchstone Venture LLP, Motivated Minds Wealth LLP and Shekhar Kamal Lodha HUF.

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    Frequently Asked Questions

    Who is Aishwarya Rai Bachchan?

    Aishwarya Rai Bachchan is an Indian actress, model, a former Miss World and one of the most influential celebrities in India.

    What are the startups funded by Aishwarya Rai Bachchan?

    The startups funded by Aishwarya Rai Bachchan are Ambee and Possible.

    What is the net worth of Aishwarya Rai Bachchan?

    The net worth of Aishwarya Rai Bachchan is 100 million

    The actress is known for work in movies like Devdas, Hum Dill De Chuke Sanam, Jodhaa Akbar, Mohabbatein, Enthiran, Ae Dil Hai Mushkil, among others.

  • How to start a pandemic-era business and its benefits

    There is never a perfect timing for starting a business, sometimes, there are but it only stops you from taking the risk. Organizations like General Motors, IBM, and Disney were all founded right before the Great Depression. Facebook, Twitter, and many others also made it through the economic crisis.

    Whether anyone starts a company before, during, or after a recession or global pandemic does not necessarily mean one is going to be more successful in the long term. If anything, global crises are what highlight the next pile of problems the world needs to solve to move forward which gives rise to hundreds and thousands of new companies, new markets, and new opportunities.

    As we are currently in this global crisis, there are multiple interesting opportunities for entrepreneurs.

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    Why is pandemic the perfect time to start any business

    Employees of the Organizations enjoy the work without long commutes. Without as much of social life, without many of the work that used to keep us busy, some people have potentially more time than they’ve ever had to invest in getting an idea off the ground.

    Here are some reasons why it is the perfect time to start a business.

    Business built in the current situation will only be stronger in the future

    Nobody has any idea how long this recession will last. However, if one creates a company that is valuable to people in an environment that is full of declining demand and rising unemployment, the idea of the business is only going to be stronger and flourish when the economy starts to improve.

    Starting a business means entrepreneurs will be even more frugal with expenses, hiring, and whatever they need to get the company started.

    A lot of talented and skilled people are looking for employment

    It’s not just small businesses that are adversely affected by the pandemic. Even the multinational companies and most heavily funded startups are firing people right now.

    Currently, the market is full of talented individuals looking for their next opportunity. As more companies move to remote workforces, this will unfold more opportunities for the right workers to find the right companies. This is a great time to find a co-founder and other teammates and build a category-defined company.

    Businesses that start and solve problems in a crisis tend to grow faster

    Generally, new consumer startups tend to be at the forefront of where the world is going with a digital focus, heavy content education and differentiation, and convenience, demand and supply focus for their customers. It’s no surprise that many of these businesses are suited for the current environment.

    But what about companies that aren’t so lucky to be benefiting from these changes? Rule number one of entrepreneurship, when things go wrong, you don’t just give up. There is no option of quitting. There’s no perfect time to start a business. What matters is how motivated you are to begin.

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    Tips to run a business during the pandemic

    Some amazing tips to run and flourish the businesses during the pandemic

    Quick to respond

    The entrepreneurs should be quick to respond in these times than in normal situations. There are many challenges and problems faced by the businesses and consumer as well. The team should be very flexible, responsive, and understanding about the additional challenges the pandemic adds to what are generally already extremely stressful events for the customers.

    Consider the Benefits of working from home

    Encourage the team and explain the perks of working from home. The privacy of employees is intact and undisturbed. Also, encourage everyone to enjoy the benefits, maybe work on the balcony for a little, go for a walk during day time, work flexible hours where possible.

    Increase communication

    Having a remote team during the pandemic, the communication and coordination among the employees have reduced. To increase communication amongst the team, rather than weekly check-ins and teleconference staff meetings, subordinates can check in with each other in some way daily.

    A short text, an email, a phone call, whatever it takes and works best. With this, employees can be there for each other as needed, and address needs as they arise, relieving both team member and team stresses.

    Always hope for the best and work for it accordingly

    Business owners or entrepreneurs need to be the one who comforts and be a leader to give great hope. They must have a steady hand to keep things intact. People tend to allow crisis and hysteria to outpace the business.

    The most important thing for new leaders is clear-headedness and accuracy of the emergency. Oftentimes, the cure can be worse than the disease, and CEOs have a responsibility to manage the psyche of people around them and work to gain confidence.

    Ask yourself these questions if you want to start a business now:

    • Have I identified a new need that customers have as a result of the current crisis?
    • Can I serve this need in a way that is substantially better than the current alternatives?
    • Am I qualified to solve this customer problem?
    • If I don’t have the experience, can I hire others or find a co-founder to help me?
    • Do I have the level of funding that is needed for my business to be profitable?
    Pandemic Affected Business
    Pandemic Affected Businesses

    How can you launch a pandemic-era business

    Build a wide network and understand what they are looking for.

    Be a big relationship person, spend at least five hours per week talking to different people in the same domain of the business maintaining relationships.

    One of the things you want to know, as an entrepreneur, is what investors want to see to feel confident investing in the company. Is it about how much revenue you produce? Is it the growth rate of your customers? Different investors look for different things, so it’s important to understand and plan what exactly is needed.

    Have a long-term plan and strategy to make it through

    Deals are still getting signed, but investors want to see that you have a very clear plan for navigating the current environment. Investors want to know:

    • How do you plan on executing the business during a pandemic?
    • Why would someone buy your product/services and who is the buyer?
    • When do you plan to start generating revenue?
    • What key metrics are to be measured, and are those strong indicators of business development?

    The Bottom Line

    Investors are looking for options as to where to put their capital. The stock market is on fire and the interest rates are so low that investing in bonds and things like that won’t yield a high return. So this is the right time to investing in deals and make the right deals for the businesses.

  • Top Companies Providing Contactless Services to its Customers

    As we look forward to the next normal, customers are already indicating a preference for companies who delivering contactless services by taking care of proper safety measures, reducing risk all along the customer journey. Companies are moving forward quickly to institute new policies that will allow them to resume their operations post COVID-19

    As India is going into a recovery phase, all its companies are looking for ways to provide goods and services seamlessly to its customers keeping in mind the safety of both its customers as well as its employees. Here is what the big companies are planning to do to provide a  contactless service to its customers.

    1. McDonald’s

    Westlife Development, the company that owns and operates McDonald’s restaurants in India has launched fully contactless take-outs in selected cities. The company stated that this move is aimed at providing a safe, hygienic, and convenient food take-outs for its customers who decide to step out of their homes to avail essential services. This contactless service delivered by McDonald’s allows its customers to place their take-out orders from their preferred stores ( nearest McDonald’s restaurant), pay online, and pick-up their order from the take-out counter on their way to home or work.

    The company ensured that the entire process from placing the order till receiving the order will be completely safe, contactless, and with adequate social distancing at every step. The company was one of the first QSR brands to resume their services with contactless deliveries and are currently delivering out of more than 150 delivery hubs.

    McDonald's 'contactless service' policy
    McDonald’s contactless policy

    Also Read: How to Provide a Contactless Experience to your Customers

    How Does This Contactless Service Works?

    • Open the McDonald’s app and select the take-out option.
    • Select the preferred store for the take-out ( nearest restaurant).
    • Order your meal and pay online.
    • Collect your order at the take-out counter at the restaurant

    1. Swiggy-Zomato-Dunzo

    The Directorate General of civil aviation (DCGA) has given permission to Swiggy, Zomato, and Dunzo to deliver the products to its customers using Drones. This will mark the first step in India’s plan to develop local drone-based services capabilities. This will set a benchmark for other companies as this will be the most appropriate method for contactless delivery. All these companies launched ‘contactless delivery’ in early March when India had less than 100 cases of the novel coronavirus. The companies continued their services throughout the pandemic with safety and hygiene measures being taken by their employees. As the cases in India have crossed lakhs and the fact that the virus’s impact is going to continue in the near future too, made these delivery startups to take the bold decision of serving its customers through drones.

    “We will start flying in the first week of July and plan the clock around 120 hours of flights in two and a half months.”

    said Nagendra Kandasamay, founder and director of Throttle Aerospace, which received approval from the Directorate-General of Civil Aviation in March along with Dunzo. India is looking at these experiments as a way to fast-pace its policies and preparing the local industrial sector to push into the drone service segment on a global basis.

    Volume of drones in Amazon's fleet from 2016-2020 (per 1000 people)
    Volume of drones in Amazon’s fleet from 2016-2020 (per 1000 people)

    Also Read: The Role Of Drones In The Upcoming Future

    2. Uber-Ola

    After four iterations of nationwide lockdown, the Indian government has lifted the restrictions from public transports as well. As public transportation services resume, Uber and Ola have come up with guidelines using which they will be rendering service to its customers in a ‘contactless’ way. With the fear of contagion of the virus being in the people’s minds, these companies have released guidelines using which a person can travel confidently. The things to be taken care of while using cabs are:

    • The driver should ensure that there are only two passengers traveling in the cab at a time
    • Wearing of masks is essential
    • Cab users can only occupy the back seats
    • Both Uber and Ola will need to discontinue their pooling services,i.e. Uber pool, and Ola pool
    • Cabs should be disinfected after every ride
    • Both the drivers and the customers should maintain hygiene inside the cab.

    Keeping in mind the Government policies, Uber also issued some guidelines which were also reflected on the Uber app.

    a) Checklists

    The online checklist available on the app cross-checks that both the driver and the customer are taking required precautions before requesting/accepting the ride.

    b) Mask Verification

    Uber is urging the drivers to click a selfie with a mask on before accepting a ride and also allows the driver to cancel a request if they feel that the customer is not wearing a mask.

    c) Free Cancellation

    The updated policy for cancellation by the company now allows the passenger to cancel the ride anytime if they feel that precautions are not being taken by the driver. The driver has the same rights to cancel under such circumstances.

    Similarly, Ola cabs have also taken such measures to ensure the safety of both its drivers as well as the customers.

    Conclusion

    As India struggles to get back the normalcy, the government, as well as the different sectors, are coming up with policies and guidelines for its citizens who do not have the luxury of staying at their homes and have to come out of their houses to do their respective jobs and duties.