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The Prospect and Challenge of Establishing Stock Market in India

Dinkar Nayak

The Indian economy was already going through a tough time last year with its real GDP growth being lowest in six years and to make the matters worse the outbreak of COVID-19 posed fresh challenges for the economy in terms of higher uncertainty and fear of global recession. The shock of COVID-19 is severe even compared to the financial crisis in 2007-08 and the rapid spread of the disease has a dramatic impact on financial markets all over the world. Hence, to control the spread of the disease the Government implemented nationwide restrictions for 21days at first which brought economic activities to stand still and hit consumption as well as investment. Indian businesses especially major sectors took the brunt from global supply chain disruption and shutdown of production in the economy. It also led to investors losing out a lot of money in the short term because of the unprecedented risk created as a result of the pandemic