It can be said that the global economy has already entered into a great recession. Superpowers like Italy or America or France or Germany are already the worst affected. A lot many industries such as Travel and Tourism, Hospitality, F&B, Entertainment, Automobile, White Goods, IT, Retail are suffering huge losses, and there is no visible ray of hope any sooner.
In comparison to the developed nations around the world, India has dealt with pandemic very well. The containment of COVID-19 to the current levels is noteworthy.