How will India’s Covid crisis affect the global economy?

The wave of Covid infections sweeping through India has sparked a humanitarian crisis. But with India’s economy the fifth-biggest in the world, could it have bigger repercussions around the globe? Saloni Sardana investigates.

Covd vaccine in India
Despite being a major producer of vaccines, India is struggling to vaccinate its population
(Image credit: © Imtiyaz Shaikh/Anadolu Agency via Getty Images)

Just when it appeared there was a light at the end of the tunnel for the Covid crisis, India is shattering global records, giving the world a harsh reality check that the pandemic is far from over.

The world’s fifth largest economy reported a new global all-time high of 412,431 cases on 5 May just days after it crossed the grim milestone of over 200,000 deaths and 20 million infections.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni