COVID-19 Impact on Indian Economy Market Size, Industry Share, Growth & Forecast To 2025

The world is facing an unprecedented crisis. The outbreak of one of the worst diseases in history, coronavirus (COVID-19) has taken place - affecting 195 countries and territories, over 380,000 people and more than 16,500 deaths till March 23, 2020. India has become the latest target of the COVID-19 outbreak - affecting over 500 people and 9 deaths till date. India is a huge country with a population of over 1.3 billion; therefore, the control of the outbreak will get difficult if the spread reaches to the community level. The doctors have predicted that the virus will advance at a higher rate in another few weeks, which will leave India into a shattered economy.

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The number of ventilators and critical care beds is believed to be sharply lacking. According to the Union Health Ministry of India, there is only one isolation bed available per 84,000 Indians and one quarantine bed available per 36,000 people. In addition, the ministry showed the concern for the lack of healthcare professionals available in the country, stating one doctor per 11,600 people and one hospital bed available per 1,826 people. This projects the major concern regarding the treatment of the rapidly spreading COVID-19 in India.

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However, the country is taking the utmost measures to control the spread of COVID-19 pandemic. The rapid spread of COVID-19 has prompted lockdown across the country. On March 22, 2020, almost 80% of the states have announced the lockdown of their respective most affected districts. More than 50% of Indians are under a complete lockdown. "Apart from ensuring the safe return of hundreds of Indians from China, Iran, and other countries, the Indian government has taken decisive measures to contain community spread," stated by the World Economic

Industry Overview

Historical market growth estimation of India economy excluding COVID-19 pandemic effect
Deviations in India economy growth rate due to COVID-19 pandemic

Verticals Affected Most

Automobile
Food & Beverage
Chemical
Oil & Gas
Aviation
Textile
Retail
Hospitality
Others

Company Profiles

Aditya Birla Group
AMUL
Hero Motocorp Ltd.
ibibogroup
InterGlobe Aviation Ltd. (IndiGo)
ITC Ltd.
Mahindra Group
Maruti Suzuki India Ltd.
Reliance Industries Ltd.
Tata Chemicals Ltd.

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This release was published on openPR.