Indian financial markets struggled this month as the world’s worst Covid crisis engulfs it but international investors are betting the economy will rebound.
May 2, 2021
Indian financial markets have struggled this month as the world’s worst COVID-19 crisis engulfs the country but international investors are betting the economy will rebound quickly once the pandemic has passed. Data shows that more foreign investment money has left India this month than came in during the whole of the first quarter, as a catastrophic spike in deaths leaves the world’s second most populous country in turmoil.
Before the upsurge, the International Monetary Fund, banks and ratings agencies were all predicting an impressive double-digit rebound in growth this year, but many of those forecasts will now have to be ripped up. JPMorgan’s Indian economists have slashed their Q2 GDP estimates to a seasonally adjusted -16% quarter-on-quarter from 6.5% and still see risks of a larger stumble if the health crisis continues unabated.
Investors straining to look beyond India s Covid-19 crisis theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
IndiaAnalysis: Investors straining to look beyond India s COVID-19 crisis
Rodrigo CamposMarc Jones
6 minute read
Patients suffering from the coronavirus disease (COVID-19) receive treatment inside the emergency ward at Holy Family hospital in New Delhi, India, April 29, 2021. REUTERS/Danish Siddiqui
Indian financial markets have struggled this month as the world s worst COVID-19 crisis engulfs the country but international investors are betting the economy will rebound quickly once the pandemic has passed.
Data shows that more foreign investment money has left India this month than came in during the whole of the first quarter, as a catastrophic spike in deaths leaves the world s second most populous country in turmoil. read more
Foreign investors bet on economy rebound as they look beyond India s Covid-19 crisis
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Last Updated: Apr 30, 2021, 10:20 PM IST
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Synopsis
With new targeted lockdowns, the government reining in vaccine exports, and ventilators and other support now arriving from abroad, Mumbai s $2.4 trillion Sensex stock index has recovered some ground and the rupee is heading for its best week since August.
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NEW YORK/LONDON: Indian financial markets have struggled this month as the world s worst COVID-19 crisis engulfs the country but international investors are betting the economy will rebound quickly once the pandemic has passed.
Data shows that more foreign investment money has left India this month than came in during the whole of the first quarter, as a catastrophic spike in deaths leaves the world s second most populous country in turmoil.