COVID-19 Impact on the Indian Economy

[CHENIEN]

technically if Indian people has been followed by the correct process of  the new law against covid-19 which is impacted  their economy i think they are all free now although almost all citizens are hard headed and besides this virus is new in historical records with limited cure in a globe,So meaning we need to beware and i guess Indian countries survive their financial crisis soon.

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[lepbagong]

technically if Indian people has been followed by the correct process of  the new law against covid-19 which is impacted  their economy i think they are all free now although almost all citizens are hard headed and besides this virus is new in historical records with limited cure in a globe,So meaning we need to beware and i guess Indian countries survive their financial crisis soon.

after all, almost all developing countries have had an impact on the corona pandemic, and I'm sure so too with India, where population levels are large enough and not easy to regulate so people can obey the rules. plus the difficulty of getting health aids such as masks, vitamins which are hard to get even if there is quite expensive. obviously will greatly affect.
It must be remembered that the current pandemic is not eliminating but reducing or breaking the chain from the sick to the healthy. high discipline is needed because there could be a more powerful pandemic aftershocks.

very sure that drugs and vaccines cannot be found and used immediately, then India will experience an economic crisis as well, maybe with other developing countries.
because restrictions will be tightened which will significantly reduce foreign exchange earnings. and foreign exchange reserves are used for handling the Pandemic.

[Rono]

India is not only on these circumstances of economy falls.In this time we see lot of breakdown for all sectors.Every country now in bad economic rate it has been wrost than 2008 and 2009.There is many report shown that it takes two or three years to recover.Whole world are facing this pandemic situation.Good news is eight country is now free for the virus.When vaccine will work it can go forever.All countries can be free for this breathtaking moment.

[Negotiation]

It's not even clear if this is right or wrong.

It is true that COVID-19 has affected the economy of the country but it has affected the economy of all the countries of the world not only in the case of India But now India has come under a lot of control. They have opened up everything in their country The Modi government has brought everything under control as soon as COVID-19 has affected the Indian economy.

[culuuton]

It's not even clear if this is right or wrong.

It is true that COVID-19 has affected the economy of the country but it has affected the economy of all the countries of the world not only in the case of India But now India has come under a lot of control. They have opened up everything in their country The Modi government has brought everything under control as soon as COVID-19 has affected the Indian economy.

Covid affects the whole world, this is for sure. It is not only India but also other countries that are suffering very serious consequences, in my country they control the epidemic very successfully but the unemployment rate is still increasing significantly.

[ethereumhunter]

It's not even clear if this is right or wrong.

It is true that COVID-19 has affected the economy of the country but it has affected the economy of all the countries of the world not only in the case of India But now India has come under a lot of control. They have opened up everything in their country The Modi government has brought everything under control as soon as COVID-19 has affected the Indian economy.

Covid affects the whole world, this is for sure. It is not only India but also other countries that are suffering very serious consequences, in my country they control the epidemic very successfully but the unemployment rate is still increasing significantly.

And right now, while the pandemic still not going to end, many countries try to the new normal which allow local store, traditional market, and else to run their business. But they suggest a strict rule for buyers and sellers, and if they don't follow the rule, they will not allow opening their store, and even they can get bills. I think that is happening in many countries, and if in one country, the infected people are in a big number, the government will use other protocols to protect their citizens.

[bearexin]

Yeah, going outside is not even an option anymore, the economy can't sustain in any nation at all if you keep people at home forever, you have to eventually let them go outside and run their business or the economy would be bankrupted and every nation would be like Zimbabwe trying to print money to pay debt of every citizen to keep them alive and the more they print the more things will cost and the more it costs the more they will need to print.

So at one point, they need to let everyone go outside and work in order to earn their own money. Of course this came with rules, rules about masks, rules about distances, rules about working hours and working methods.

Basically it is not all over yet, it is not suddenly sunshines and rainbows, it is still a danger, but with enough precautions we will get this over with eventually.

[suvo05]

It obviously will have an short term impact on the economy but, as the major part of the Indian economy depends on unorganized business and agriculture, the impact will not major one. Lots of manufacturing companies are also trying to get rid of the extra dependency on China, they are aiming to open manufacturing units in India. Now India has to take those opportunity

[abhiseshakana]

It is true that a regime change won't guarantee that things will be better, but chances are high that they would be better. The leader of India implemented a lockdown without proper planning due to which a ton of migrants suffered.

No matter how bad the situation is, proper planning could have eased the situation, but he made it worse and that is a fact. The Indian government is currently fumbling due to the drastic rise in cases.

It would be very difficult to make proper planning because there is only choose the best of all the bad choices. The Indian economy has contracted in Q3 and Q4 due to the US trade war with China and the elimination of India as a recipient of the US Generalized Preference System facility. Structural problems in the Indian economy in the industrial agriculture and services sector as well as improvements in the financial sector which caused a decrease in liquidity availability also haunted before the pandemic. India is included in a fragile country because of the current account deficit. So the uncertainty of the government in taking policies related to the pandemic is economic considerations and the worst of India is inadequate health facilities in some areas.

What surprised me from the Indian government in overcoming the pandemic was the non-use of the technology sector which, in my opinion, is one of the plus points of India. Either because they feel China as a rival so they do not want to imitate China. China combines leadership + management + technology + money printing to successfully stem a pandemic. India has technology but is not used against corona. In management, I think Modi is quite skilled as she proves she rejects Chinese OBOR and approaches America but also rejects the involvement of Indian military attacks in the South China Sea. So the main factor that made India as successful as China to stem the pandemic was that Indian ammunition was not as big as China. Will India follow China's lead in printing money?

[WitKohler]

I do not think that countries that suffer from overpopulation will suffer from the restoration of normalcy.
If India manages to reopen the economy and control the pandemic, it will return quickly.
The problem is if India is unable to control the pandemic or is forced to re-close the economy once again.
we may witness the death of many people and the loss of many jobs.

[Oneandpure]

Not only Indian but also all country around the world got impact with covid 19, right now many institution try looking for new way how to stop covid 19 and bring back normal activity, World Healthy Organization still not getting way how to stop covid 19 and make many country will get economic bad and look trash until today.

[Kulkhan]

Covid-19 Already impact on Indian Economi,  I think Covid-19 Impact Not Only Indian Economy It Also Impact World Economy. But India is a Big Country so India will Fall Big Economic Crisis. And i think This Crisis Will For Long Time.       

[shoreno]

Covid-19 Already impact on Indian Economi,  I think Covid-19 Impact Not Only Indian Economy It Also Impact World Economy. But India is a Big Country so India will Fall Big Economic Crisis. And i think This Crisis Will For Long Time.       

that is the reason why op is more concern on india than on other countries due to thier population and also on the state of thier life  . while other countries has a big population too like china for example but china can recover fast and it did already happen due to thier advancement in the economy . aside from india , africa is also the other country that pops on my mind when it comes to fatal crisis like covid but thankfully some of our fellow bitcointalk members are doing a move to help them .

[Alert31]

Under Covid-19 impact India businesses and economies function.The next 12 months will be difficult.Many businesses will struggle some may even die. But as with economic adversities of the past new industries will emerge bringing with it renewed hope of recovery.covid is having a deep impact on Indian businesses over the coming month's jobs are at high risk because firms are looking for some reduction in manpower.Indian economy that was visible towards the end of 2019 and early 2020 The revised Gdp estimates for India downwards by 0.2 percentage in year its big down fall.

Not only India is now suffering from this pandemic. Every affected country are now having a worst situation especially in economic status of the country. In our country,government implement a new normal just to run the economy and to recover litle by litle. The unemployment rate of the country getting higher because most business establishment is either closed or layoff their current staff. Our hope to go back to normal is only if there will be a cure for this virus.

[yohananaomi]

Not only Indian but also all country around the world got impact with covid 19, right now many institution try looking for new way how to stop covid 19 and bring back normal activity, World Healthy Organization still not getting way how to stop covid 19 and make many country will get economic bad and look trash until today.

agree, that India is indeed quite high population and poverty rates are also the same. but not only is India affected because of this pandemic, even developed countries will also feel the impact of the pandemic. as long as it hasn't been able to stop this pandemic, of course all countries in the world will still be affected. for developed countries with high foreign exchange reserves may be able to overcome but not with developing countries and poor. can be sure to be very large. what is most feared might be a new outbreak of hunger in a poor country.

[STT]

elimination of India as a recipient of the US Generalized Preference System facility

India hardly seems too rich though it could be great and some sections might have money, it clearly has developed though at a much slower rate then China.    The main determiner of success for India is within its own country not in external support, its such a large nation that just sorting its own commerce better counts for alot in growth potential.    Covid should not have as large an impact on a nation so young on average across the population, I'm still optimistic they can continue to progress but the vital point I'm missing is how useful Modi and his policy will be to his country and people.

[abhiseshakana]

India hardly seems too rich though it could be great and some sections might have money, it clearly has developed though at a much slower rate then China.    The main determiner of success for India is within its own country not in external support, its such a large nation that just sorting its own commerce better counts for alot in growth potential.    Covid should not have as large an impact on a nation so young on average across the population, I'm still optimistic they can continue to progress but the vital point I'm missing is how useful Modi and his policy will be to his country and people.

In a few years, India will get a demographic bonus. Demographic bonuses can be both positive and negative depending on the government in its exploration. India faces a shortage of skilled labor, on the contrary, the number of unskilled labor is increasingly abundant. As a result, labor productivity is low, making India threatened to fail to take advantage of the demographic bonus.

To capture the momentum of Modi's demographic bonus, it must be capable and skillful to develop new jobs and promote rural development, especially infrastructure, roads, and dams, as well as the development of chemical, iron and steel industries that are needed by various industries. The technology-based education system has indeed been adopted by India for a long time but needs to provide its citizens with the knowledge and skills needed to develop the economy.

[perfect999]

Not only Indian but also all country around the world got impact with covid 19, right now many institution try looking for new way how to stop covid 19 and bring back normal activity, World Healthy Organization still not getting way how to stop covid 19 and make many country will get economic bad and look trash until today.

But we have to accept the fact that poor economic countries like India and their neighboring countries have been hit harder than other than other European countries because during the corona virus lockdown was one of the most important factor that could have stopped the virus from spreading but struggling economic countries had to force limited lockdowns because their countrymen will die of starvation if they do a complete lockdown because of the poor economic structure.

While economic giants like European countries haven't been into such a situation just yet because they have the power to feed their people even during the worst times and I heard US was giving some $2000 to every citizen in the situation per month which in Asian countries people don't earn that much normally. Not sure how true it is though if they are actually giving 2k to everyone.

[aiguy]

COVID-19 effects India too much as compare to other countries behind the reason is that much populations and not well economic level. through this pandemic lot of people became a jobless. it will take 5,6 years to recover again.

[royalfestus]

Yes, I agree with this. Most of the country that faces huge problem when it comes to economy are those third world countries. They become poorer because of the pandemic.

It should be true but in Africans showed different response to this disease, though we may not trust the data from there but the health facilities has not shown such pressure even the little facilities at their disposal. Activities has resumed in almost every part of the sector of the African continent with lower response to all health precaution laid down to contain the disease. If compared with Ebola casualties we can consider this to lesser. The economy there isnt that good and the pandemic wont be blamed there