Business »  Topic »  Bruised Indian economy to be battered further by coronavirus: Reuters poll

Bruised Indian economy to be battered further by coronavirus: Reuters poll


BENGALURU (Reuters) - India’s already-slowing economy weakened to at least an eight-year low this quarter and will slow even more sharply in the next six months due to the global coronavirus pandemic, a Reuters poll found.

With the virus spreading rapidly, Prime Minister Narendra Modi announced a three-week nationwide lockdown on Tuesday which will have a huge detrimental impact on businesses.

India’s informal sector, the backbone of the economy, will be hardest hit as economic activity comes to a standstill.

“Just as everywhere else in the world, the Indian economy is bracing for the fallout (from) this unprecedented event ...


Read the full text reuters