Vismay GRN, National University of Advanced Legal Studies (NUALS)
Abstract
The Covid – 19 pandemic has caused unprecedented havoc on society in the year 2020. The effects of the pandemic have been felt across varied spheres of human activity, be it the economy or the health sector. Most countries across the world-imposed lockdowns in order to effectively curb the spread of this highly infectious disease. Naturally, these lockdowns resulted in a number of hurdles to business and their working models. They could no longer profit by selling their products and services at
traditional brick and mortar outlets and they now had to rely on new ways to reach their customers.
These challenges were faced by businesses in India as well. Offices, educational establishments, public spaces, etc, were all mandated to stay shut. However, the demands for products did not take a hit. There was in fact an increase in demand which led to shortages in essential products. These shortages may potentially influence firms to resort to exploitative pricing strategies of firms.
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