The Economic Cost of COVID-19: A Potential Pandemic Impact on Indian Economy

Abstract

The outbreak of COVID-19 or SARS-CoV-2 has disrupted the economies of global leaders viz. America
and china and is spreading globally. The first epicenter of this epidemic is Wuhan (where outbreak of
corona happened), the capital of Central China's Hubei Province, so, the role of china’s financial
health at this stage plays a vital role in global economy and so the America’s being world leader.
COVID-19 is probably the biggest health epidemic since SARS in 2003, the world has been affected
and due to its outreach presence globally it’s no longer epidemic but considered as a Pandemic by
WHO. Apart from the obvious health impacts and human costs, the economy has been hit quite hard
too. The impact is so strong the almost every country is at lockdown and so their trade and commerce.
This research paper is guided through the global economic scenario but mainly focused to the impact
of pandemic on the Indian Economy, Present and Future. This paper will help to understand how
different sectors of Indian industries are reacting to this situation and taking measures to minimize the
loss or risk in this dire situation.