Coronavirus can cause a huge loss of $ 350 million to India. Corona stalled India's business
Due to Corona virus, the whole world has been stirred at this time and now the international economy has deteriorated due to this. At this time, due to this, the number of infected people in the world has reached above one and a half lakh. Also, the figure of those who died has been more than 6 thousand. At present, more than 150 countries of the world have been infected with the corona virus.
Due to Corona virus, the whole world has been stirred at this time and now the international economy has deteriorated due to this. At this time, due to this, the number of infected people in the world has reached above one and a half lakh. Also, the figure of those who died has been more than 6 thousand. At present, more than 150 countries of the world have been infected with the corona virus. However, India should be praised for the timely steps it has taken and the result is that the corona virus has not affected India in the same way as the US and Europe are affected these days. Meanwhile, the United Nations Conference on Trade and Development has said that India is also one of the 15 major economies of the world affected by the corona virus. The impact of the decrease in production in China can be clearly seen on India. It is being estimated that India's economy is worth about 35 million dollars.
In fact, the Indian government has canceled the visas of all countries for the next 15 April due to Corona. Let us tell you that the income from this area is more than two lakh crore rupees per year and the loss is clearly visible in it. The International Air Transport Association estimates that the aviation industry could lose at least $ 63 billion in passenger business. The automobile industry can also be seen as a threat. There are approximately 45 million people working in this region in India. Due to the Corona virus, there has been a shortage of components for India's auto industry. In such a situation, the risk of unemployment has increased here. The warning from the World Health Organization states that if Antarctica is left out, this catastrophic situation can be gauged from the fact that the death toll in Italy, with a population of 60 million, is breaking records. Tell you death so fast So it has not happened in China either. However, the number of people infected in India is beyond 138. This clearly shows that due to the consciousness, awareness and full support of the people in the government, it is helping to prevent the corona virus from spreading rapidly. The virus has caused a lot of concern in the stock market. There is a loss of Rs 11 lakh crore in one day, which can be called the worst phase after the financial crisis of 2008.
The RBI is also worried about the outbreak of the corona virus. The RBI also believes that its spread to various countries of the world will have a severe impact on global tourism and trade. If attention is paid to the price of crude oil and gold in the beginning of January due to the tension of US, Iran and now Corona Due to the virus, they have declined. The impact of the corona virus on the global economy is much greater than the SARS spread in 2003.
At a time of crisis like SARS, China was the sixth largest economy and contributed 4.2 percent of global GDP, while it was the second largest economy in Corona's time and contributed 16.3 percent to global GDP. In this case, this virus will not only shock, but will leave a wide impact. It is estimated that global GDP will fall by 0.8 percent in the first quarter and by 0.5 percent in the second.
The impact of the corona virus on the global economy is believed to be $ 2.7 trillion, which is equivalent to India's total economy. Let me tell you that America is a country with economy of $ 19 trillion and China with economy of $ 13 trillion. Consumption of medicines and reduction in sales of vehicles and from tourism to hotel industry will all be vulnerable. Right now India has to deal with Corona as well as its economic conditions. Falling growth rate has to stop and also compete with the international market. It is being said that China's growth rate may fall by one percent.