Covid-19 has badly impacted the world economy, from the aviation sector to the sports industry. China is the hub of the production of many equipments. Most of the countries including India and the USA import raw material and manufactured equipments from China. In the current scenario, when China has stopped exporting these, the impact is visible in the manufacturing sectors of these countries.
Many countries including India have canceled visas for foreign nationals. The Foreign Ministry has advised people to cancel unnecessary visits to other countries. This move has badly affected the aviation sector globally.
Recently, the Indian government also canceled the cricket tournament series between India and South Africa. The government has advised the Board of Control for Cricket in India (BCCI) to postpone the India Premier League (IPL). All the sectors associated with IPL, including broadcasters, sponsors and players would face a huge monetary loss.
Many countries including Italy, Spain, and China have partially or fully imposed a lockdown. Malls, roads and schools are shut and people are not allowed to move freely. All kinds of economic activities have come to a halt.
In India, states including Karnataka and Delhi have ordered to close down schools, pubs, malls or any kind of public gatherings. Preventive measures have been taken to check the further spread of the pandemic.
In all measures, global exchange is facing the heat of Covid-19. On 10th March, Sensex plunged by 2,000 points, causing a loss of $11 billion toe investors.