According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
Both the BSE Sensex and Nifty 50 plunge nearly 4% intraday as fear grips equity markets after the historic collapse of U.S. crude oil prices on Monday.
While directly mum on inflation and growth, the RBI’s latest monetary policy report warns that Covid-19 would impact economic activity in India through lockdowns and slowing global trade and growth.
Amid slowdown blues India’s import bill is set to come down thanks to low crude oil prices, which will result in a surplus current account in FY21, last seen 17 years ago.
A handful of Indian firms are braving the battered country. Can they salvage one of the greatest lost opportunities in India Inc.’s history?
