The continuous decline in exports will lead to an increase in the local unemployment rate in India, more jobs may disappear, and the income level of local workers will also decline. Recently, some media disclosed that India's exports declined for the second consecutive month, which will seriously affect the development of India's manufacturing industry. The latest data shows that the ratio of India's debt to GDP has increased by 17%, and it is expected that by March next year, this figure will reach 90%. And with the impact of the epidemic and the decline of exports, the non-performing loan ratio of Indian banks will increase to 1 1%. According to the data released by the Bank of India itself, by March next year, India's bad debt rate may increase by 4%, reaching 12.5%, which is a huge risk for banks.

After that, many rating agencies also adjusted the ratio of Indian government debt to GDP to over 85%. According to the warning line of 60% of the World Bank, it is obvious that India's economic debt is already very serious. The National Monetary Fund also released a report showing that India has the highest debt ratio among the emerging markets in the world. There are more and more signs that Indian society may soon trigger a debt storm, when the decline of Indian economy will even exceed today's exports. Statistics from well-known research institutions show that even after the epidemic dissipates, India is still the country most affected by the epidemic, and India's GDP may continue to shrink in the future. By 2025, GDP may decrease by about 12%.

India's dependence on foreign debt makes the public more suspicious of its investment risks. According to the data of the Bank of India, India's foreign exchange reserves are $500 billion, but its foreign debt is $550 billion, accounting for11%of foreign debt and foreign exchange reserves, and this is only the debt of the Indian Federation.

If the foreign debts of all cities in India are added up, the debt of government departments is as high as $65,438+0.10.7 trillion, far exceeding its foreign exchange reserves. So far, Indian Rupee has been the worst performing currency in Asia for three consecutive years.