Market Research Report
Retail Savings and Investments in India - Coronavirus (COVID-19) Sector Impact
|Published by||GlobalData||Product code||950849|
|Published||Content info||19 Pages
Delivery time: 1-2 business days
|Retail Savings and Investments in India - Coronavirus (COVID-19) Sector Impact|
|Published: July 14, 2020||Content info: 19 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering declines in their economic growth for the year to date. Many economists and institutions have cut their forecasts as a number of countries officially slipped into recession in Q1 2020.
We are seeing a similar trend in India - according to estimates GDP is expected to contract by 1.5% over the course of the fiscal year, and India is anticipated to slip into recession by the end of fiscal year 2020-21. The decline will have an adverse impact on all sectors, including retail savings and investments. While the government is easing restrictions in a calibrated manner, the surge in daily active case numbers is worrisome, with the country seeing a spike in new cases across several states. India now has the third-highest number of COVID-19 cases in the world behind the US and Brazil.
This report focuses on the impact of the coronavirus outbreak on the Indian economy and the country's retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData's pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.