Mumbai: Covid19 outbreak is rapidly evolving into a human tragedy. Financial markets are experiencing intense volatility says RBI governor Shaktikanta Das.
RBI Governor says India is not immune to this pandemic, already more than 100 cases have been reported. Effort are being mounted by the govt on war-footing. COVID19 could impact India directly through trade channels, in which exposure to China is relatively high.
Coronavirus could impact economic activity in India directly through trade channels, especially in electronics, drugs, pharma, chemicals, etc, in which the exposure to China is relatively high says RBI Governor Shaktikanta Das.
Second round of effects of the pandemic could operate through a slowdown in the domestic economic growth & it would obviously be a result of synchronised slowdown in global growth and as a part of that, the growth momentum in India would also be impacted somewhat.