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
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%…