Market Talk – March 25, 2020

by Martin Armstrong
Armstrong Economics

ASIA:

India’s informal sector which comprises of approx. 1 million daily wage workers (mainly working in the construction sector) may face a big problem after the country went into a complete lockdown for 21 days. Many Indian states have announced packages ranging from 1K INR to 5k INR to support the daily wage workers but this is limited to only registered workers with agencies and large construction companies in India. Approx. 5,00,000 daily wage workers working in the informal sector are not registered with such companies or agencies.

India has reported 606 confirmed cases of COVID-19 and 11 deaths at the time of writing this report.

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