COVID-19 and its Impact on Indian and Global Economy

The coronavirus outbreak which turned into a pandemic in a very short time has claimed more than 2 Lakh deaths worldwide and several lakhs of people are infected. This is first and foremost a human tragedy which is affecting the whole human race in all the possible forms. In this paper we are trying to understand the economic impacts of COVID-19 and its aftermath. How global economy is getting affected in this troubled time. Will the world go into another recession like 2008 crisis? Which kind of recovery graph global economy will see – V shape, U shape or L shape? Further focus will be on challenges ahead for Indian economy. What to do now, how to move on and embrace this new normal. Also, we would try to understand the possibilities for Indian economy as international market wants to diversify and decrease dependency on China.