The pandemic has tipped the scales to a rare outright contraction in world GDP. The COVID-19 epidemic hit at a time of great economic vulnerability and could be the shock that drives a wobbly global economy into recession. Corporate profits have been hard-hit, forcing companies to take extreme efforts to shore up their balance sheets by squeezing inventories, retrenching their workforce and slashing investment.
India's economy was already in the throes of a slowdown before the beginning of the pandemic. Its GDP grew at 4.2% in 2019–20, its slowest pace in nearly a decade. Thanks to the COVID-19 pandemic and subsequent lockdown, the economy is now in the contraction zone. Unemployment is expected to rise. NPAs are an unending nightmare for the Indian banking sector.
What road map should we embark upon to lift the economy out of its funk?
4 economists will be sharing their views at the Morningstar Investment Conference.
- Jim Walker, Aletheia Capital
- Pranjul Bhandari, HSBC Securities & Capital Markets (India)
- Samiran Chakraborty, Citigroup
- Sonal Varma, Nomura Singapore Limited
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