Effect Of COVID-19 In The World Economy,As Well As In INDIA Economy?

Global economy could shrink by almost 1% in 2020 due to COVID-19 pandemic: United Nation:-

The analysis by the UN Department of Economic and Social Affairs (DESA) said the COVID-19 pandemic is disrupting global supply chains and international trade. With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt."Millions of workers in these countries are facing the bleak prospect of losing their jobs. Governments are considering and rolling out large stimulus packages to avert a sharp downturn of their economies which could potentially plunge the global economy into a deep recession. In the worst-case scenario, the world economy could contract by 0.9 per cent in 2020," the DESA said, adding that the world economy had contracted by 1.7 per cent during the global financial crisis in 2009.

The analysis noted that before the outbreak of the COVID-19, world output was expected to expand at a modest pace of 2.5 per cent in 2020, as reported in the World Economic Situation and Prospects 2020.

charts that show the global economic impact of coronavirus:-

More details on effect of COVID-19 Click on the link:-https://intelligence.weforum.org/topics/a1G0X000004PzYuUAK?tab=publications

Effect of COVID-19 on Economy of INDIA?:-

The COVID-19 pandemic has set foot in India as across the globe and is likely to impact the country’s economy across industries and business formats.

Explore the Deloitte India point of view highlighted through the lens of ‘consumer.’

Our insights are on the impact that this virus has made on various segments in the consumer industry, its consequences on India’s outlook, and possible steps and responses to mitigate risks in these uncertainties.

Flow of the report

-The report analyses the current economic situation for India Delves to possible consequences through segmental analysis.

- Consumer retail including food and beverage, apparel and footwear, beauty, retail

- Automotive

- Travel and hospitality services.

-Shows changing shopping patterns of consumer before, during and after the pandemic

-Government interventions and steps taken,Brings a perspective of the Future Outlook as a response to the crisis.Click to download the report

NEW DELHI: The coronavirus pandemic is a "severe demand shock" for the Indian economy and could lead to further moderation in the country's GDP growth as the coronavirus-induced lockdown is causing significant disruption across multiple sectors, says a report.

According to Dun & Bradstreet, besides the impact on human lives and global supply chain, the pandemic is a severe demand shock which has offset the green shoots of recovery of the Indian economy that were visible towardsvisible towards the end of 2019 and early 2020.

"A fall in the optimism levels amid heightened uncertainty has led to a 'double whammy' - closure of businesses leading to global supply chain disruptions and a steep f ..fall in the consumption," said Arun Singh, chief economist at Dun and Bradstreet India.

Accordingly, Dun & Bradstreet has revised its Gross Domestic Product (GDP) estimates for India downwards by 0.2 percentage points for fiscal year 2020 to 4.8 per cent and by 0.5 per cent for fiscal year 2021 to 6 per cent.

"However, the extent of actual impact would depend on the severity and duration of the outbreak, which is still unknown," D&B said.According to the report, the three major channels of impact for Indian businesses are legal linkages, supply chain and macroeconomic factors.

Dun & Bradstreet data shows that at least 6,606 Indian entities have legal linkages with companies in countries with a large number of confirmed 

COVID-19 cases.

"A slowdown in business activity in the foreign markets implies a negative impact on the topline of these companies," the D&B report said.

The impact of COVID-19 would be felt across sectors such as logistics, auto, tourism, metals, drugs and pharmaceuticals, electronic goods, MSMEs and retail among others, the report said.

Singh further said the COVID-19 pandemic threatens to disrupt the global economy with fears of recession looming in many.

Some Important video of Economy Crisis:-

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