With vaccines of some firms already in animal trial phase, developers say that if all goes well, India could have a vaccine by next year. The move comes at a time when Chinese research firms are entering phase II of clinical trials in a global race to find a vaccine for COVID-19.

The commerce ministry has recommended the continuation of anti-dumping duty on a Chinese chemical used in food and pharma industry with a view to guard domestic players from cheap imports. In a notification, the ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of Sodium Citrate and injury to the domestic industry if the existing anti-dumping duty were to be removed.

Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.

'The challenge will be making sure its efficacy is high.' 'If a vaccine is only 50 to 60 per cent efficient, it's a double-edged sword.'

Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.