India may escape a recession, but coronavirus will slow down growth further

Rating agencies, both global and domestic, are unanimous that the Covid-19 pandemic will be an economic tsunami for India.

Even though the country may not slip into a recession, unlike the Eurozone, the US, or Asia-Pacific that have stronger trade ties to China, analysts believe the impact on India’s GDP growth will be significant.

India is currently in the midst of a 21-day lockdown, that began on March 25, to contain the spread of the coronavirus. The fallout of the move will spill over to financial year 2021, which begins on April 1.

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