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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

Topics
Coronavirus | corporate India | Lockdown

Dev Chatterjee & Arindam Majumder  |  Mumbai 

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 ...

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First Published: Tue, April 14 2020. 22:29 IST
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