UNCTAD: India among 15 countries economically affected due to Corona Virus

The United Nations Conference on Trade and Development recently released a report on the effect of COVID-19 on global economy. According to the report, India was ranked 10^th.

World: Key Findings of the Report

The report says that the slow down in manufacturing sector of China due to the virus, will affect 50 billion USD trade all over the world hitting global value chains greatly.

Among the most affected European Union is to take a hit of 15.6 billion USD, followed by US with 5.8 billion USD. Japan at 5.2 billion USD and South Korea and Vietnam at 3.8 billion USD and 2.3 billion USD respectively.

India: Key Findings of the Report

Though India will receive 10^th largest economic blow in the world due to the virus, its economic slow-down will be low as compared to the other economies. In India, the chemical sector is to receive heavy blow followed by textiles, automotive sector, electrical machinery, leather products and metal products

Month: Current Affairs - March, 2020