We analyze how the pandemic has affected the economies of India and China.
In September, there were more than 25 million cases of Coronavirus worldwide (0.3% of the cases in world population). In accumulated terms, the US is the country with the largest number of cases, followed by India.
Currently, India is the country with the largest number of reported daily cases, exceeding 85,000 (32.7% of the world total).
The initial slow response to the spread of the virus obliged Indian state authorities to adopt a stricter form of lockdown than other countries, with a significant impact on mobility and retail stores.
In light of the situation, the IMF, in its June forecasts for 2020, reduced Chinese growth by 4.8 pp (to 1%) and India by 11.5 pp (to -4.5%).
In China, it is expected that consumption and production will return to positive figures at the end of 2020, whereas a slower recovery is forecast for India.