Corporate India braces for $26-bn a week loss amid coronavirus outbreak

Nation may lose close to over $5 bn due to lockdown, says Ficci

Corporate India is bracing for higher economic losses — as a result of the lockdown being extended till May 3 — with the figure estimated to rise to $26 billion a week, from $16.6 billion earlier.
 

“India may be losing close to Rs 40,000 crore daily ($5.25 billion) because of the lockdown, with an estimated loss of Rs 8 trillion during the past 21 days. It is also expected that close to 40 million jobs are at risk during during April-Sept 2020,” said Sangita Reddy, president of Ficci.
 

The economic loss has widened mainly due to higher-than-expected output loss in