The outbreak of Coronavirus happened in China but it has infected more than 198 countries to date. With every passing day, people around the world are losing their lives and the quality of life is also degrading. The increase in depletion of economy and resources and the inadequate supply chain has resulted in the decline of business opportunities globally.
Fluctuation in the stock market has adversely affected the buying and selling of market shares and investments.
Considering the recent impact it is speculated that the payment has staggered the world economy to the amount of $1 trillion. The gap is further widened with social distancing and lockdown that has not only affected startups or SMEs but also daily workers. Interruption in the supply chain has hit almost every industry and stock markets have been on a continuous slide since the end of January.
Between 10th January and 16th March the European, Hong Kong, US, and Indian stock markets went through major losses.
The impact of coronavirus is not just limited to a few sectors in India or globally, but it is equally evident in the stakeholder industry as well. Considering the white-collar and blue-collar industry, the negative impact of the pandemic is transparent now.
Few major stock exchanges including FTSE, NYSE, Sensex, Nikkei, Die Jones, Hang Seng have witnessed a decline of more than 25% out of which the worst impacted is BSE Sensex which had to bear 10.2K that led to a 25% decline.
This is evidence that the global economic balance has shifted from stability to an uncertain phase, out of which global agencies are propounding to alert for the wors
A large number of global or local agencies are uncertain about the pandemic and its economic devastation over the places. India has potentially gone through a 33-day lockdown in order to overcome the increase in coronavirus carriers.
It has resulted in a compromised financial structure, especially with the 2021 year. Later, the finance minister of India, Smt. Nirmala Sitharaman made a statement and announced a package worth $23 billion for cushioning the shortcomings.
In India, the GDP the transportation front, there is no passenger shift because of no passengers.
In spite of all the hurdles, it is speculated that the businesses that will invest in the financial resilience and strategic or optional development and global market is likely to be positioned better and recover well.
As global exporters are in a state of turmoil because of the drop in their sales and investment, the global effects are still subjected to depend upon the containment of the virus and alteration in supply chains.
The countries that have controlled the virus to an extent are resuming to normal but to say the least, it can still not be made public when we will witness the normal pace of life.
Eduindex News 