logo |

News

    Home   >     Industry    >     Main body

    Indias Fortunes Diverge From Rest of South Asia as Virus Surges

    Abstract:South Asias biggest economy has been ineffective in stamping out the coronavirus outbreak and it will show up in its economic performance: India is set to lag regional peers in the race to recovery.

      South Asias biggest economy has been ineffective in stamping out the coronavirus outbreak and it will show up in its economic performance: India is set to lag regional peers in the race to recovery.

      The relative success of Pakistan, Sri Lanka and Bangladesh in containing the virus will help their economies recover at a faster pace than India, Capital Economics Ltd. said in a report to clients. India is now one of the worlds virus hotspots, with about 5.5 million cases.

      “New cases per capita in these three economies are far lower than in India,” said Shilan Shah, senior economist at Capital Economics in Singapore. “This has enabled a faster rebound in activity.”

      Read: Skyrocketing Indian Virus Cases Could Eclipse U.S. Outbreak

      As a result, the drop in gross domestic product in 2020 will be much less severe in Bangladesh, Pakistan and Sri Lanka. Whereas, India is expected to post a double-digit slump.

      Although per capita testing is higher in India compared to its neighbors, the share of tests coming back positive have fallen in the three neighboring economies, suggesting genuine progress in getting the virus under control, according to Our World in Data figures produced by the University of Oxford and Global Change Data Lab.

      “Whatever the reasons, the important point from the economic perspective is that the lower prevalence of cases has meant that containment measures have been scaled back at a quicker pace than in India,” said Shah.

    Latest News

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United Arab Emirates Dirham
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.