India is on fire: why the situation in the country will affect the global economy

The number of cases of covid-19in India alone on April 30, it exceeded 400 thousand. The country is literally on fire: funeral pyres are burning, and there is not enough vaccine. India's economic recovery is under threat, and with it the global economy

India has long become the second CHINA for companies from the US and Europe. It is both a huge market, friendlier and more open than China, and the largest manufacturer of their goods, more accommodating and cheaper than China . Manufacturers of consumer electronics place factories in the country, for example, it was in India, and not in China, that they assembled the first generation iPhone SE. American corporations see great promise in English-speaking India and are investing billions in local projects and start-ups. However, a pandemic right now can set aside the development of the country and hit its investment attractiveness.

On April 27, the US Chamber of Commerce warned that India's economy, the sixth largest in the world, could collapse due to a record surge in CORONAVIRUS infections. The unstable situation in India will slow down the entire world economy.

On April 30, the country set a new record for the daily increase in detected cases of coronavirus. It amounted to more than 400 thousand - these are the maximum figures since the beginning of the pandemic, the country's Ministry of HEALTH reported.