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S&P Report: Big countries of the world are heading towards recession, know what will happen to India…

New Delhi | S&P Report : Countries around the world are already trying to recover from the situation after facing an epidemic like Corona, but a report has once again acted as a scare. Global rating agency S&P said on Tuesday that the US and the euro area are slowly moving towards recession. It has been said in the report that before the coming 2023, millions of people of the world may be seen struggling for employment. However, it is a matter of relief that it has also been said in the report that this recession is not going to have any effect on India.

S&P Report : Regarding the recession, it has been said that after the corona epidemic, it is going to be a big problem for the people. These are the arguments given behind telling India away from this danger. It is not expected to have an impact on India because India’s economy is not very much connected to the global economy. Speaking to reporters, Paul F Grunewald, Chief Economist and Managing Director at S&P Global, said that the Indian economy is very different from the global economy because of its massive domestic demand.

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S&P Report : Another reason has been given behind telling India safe, which states that India is a net importer of energy. On one hand India has sufficient reserves of foreign exchange, while your companies have also been successful in maintaining good bookkeeping. Grunewald said that India was never fully connected to the global economy and therefore is relatively independent of global markets. He said that if there is a recession in America and Europe, a lot will also depend on the flow of global funds.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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