Indian economy in panic over coronavirus

The havoc wrought by coronavirus is now there for all to see.

India, after staying relatively unscathed for a while, is finally witnessing the dread setting in.

The total count of Indian patients has shot up to touch 76.

Fear is palpable everywhere, and with good reason.

The theory about India's relative safety  seems to be rapidly losing steam.

India does not have a strong link with China so the economic spill-overs from China on to India are not severe.

One is not so sure where the situation will head if the virus refuses to go away soon.

The Chinese virus has so far affected India's manufacturing and exports sectors

Sectors like medicines, electronics, textiles and chemicals are being badly hit

Despite all efforts, Indian industry suffers from the threat of coronavirus

But that may not be enough in case of a prolonged siege.

Moody's  forecast  the virus to put added pressures on Asia growth rates.

The impact will be seen primarily in trade and tourism & through supply chain disruptions.

India's growth slowed to a near 7-year low of 4.7% in October-December 2019

Now India faces the next big challenge of coronavirus outbreak stifling global growth.

The business impact of the virus is already being felt in many parts.

India might face much weaker growth as the spread of the virus.

Coronavirus has now affected over 1,18,000 people worldwide, and caused nearly 4,300 deaths,

According to economists,two things need to be keenly watched now from India's viewpoint

  The segments where India depends on China for imports

A negative demand impact that could prolong for India

This could be serious news for India, especially after Moody's has cut its 2020 growth forecast.

Now the growth rate is estimated to 5.4% from an earlier estimate of 6.6%.

Coronavirus has not only brought panic but hit the already struggling economy