21 Apr 2020

Impact Of Covid-19 On Indian And World Economy

The Corona virus outbreak is having a negative impact on various sectors of economy.

In India the GDP will be badly affected due to lacking of  business confidence, downfall in financial market and travel sector including disruption to supply chain.                 

Many other countries across the globe are facing economic recession due to this pandemic every country who are suffering from covid-19 are now in lock down and due to this lockdown various sectors of economy are facing recession, sectors like real estate, manufacture of motor vehicle etc.

But we should not forget that many other sectors like insurance sector, pharmaceutical sectors, mobile internet and connections facing boom in this economy. 

India is also having opportunity of exporting medicines, masks etc. We can see this pandemic as an opportunity to India as it is a bright time to cover its trade deficit

In India, various sectors may give a boom to economy as online platforms are available. Retailers and many grocery stores are now giving home delivery. People are now working from home. New applications are now coming in the market which will ease the business. People are now dependent on online platforms for home delivery and for money transfer. This is also a bright time for upcoming software engineers as people are now digitalizing.

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