NEW DELHI, April 21 (Xinhua) -- A latest survey conducted by a leading business organization in India has found that the prevailing novel coronavirus (COVID-19) conditions had left a huge adverse impact on the overall economy and the business community of the country.

Conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with a private organization Dhruva Advisers, the survey revealed that a large section of the industry could see a "permanent impairment" unless a substantive economic package was announced by the government immediately.

The magnitude and speed of collapse in economic activities that India has seen over the last few weeks is "unprecedented" and there is tremendous uncertainty about what the future holds for businesses and enterprises, said the survey findings.

Almost 72 percent of the respondents to the FICCI-Dhruva Survey reported that COVID-19 was having a "high to very high" level of impact on their businesses.

A substantial majority of the respondents did not foresee a positive demand outlook for their businesses in this fiscal, with 70 percent of the surveyed firms expecting a de-growth in sales in the fiscal year 2020-2021.

A vast majority also foresaw a reduction in their business cash-flows and companies' order book, said a release issued by FICCI.

"Jobs are also at risk over the coming months as nearly three fourths of the surveyed firms said that they may look at some reduction in manpower in their respective companies," added the release. Enditem

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