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 ...
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