India likely to recover sooner than other economies, says JK Paper Chairman

Bharat Hari Singhania says people in 170 countries are likely to face a decline in average income.

India is expected to be one of the few bright spots in the world economy as countries battle the coronavirus pandemic, according to JK Paper Chairman Bharat Hari Singhania.

The pandemic has arrived at a time when the Indian economy was already experiencing a growth slowdown, as reflected in lower discretionary spending over the last 12 months, Singhania said in his address to shareholders in the company's annual report for 2019-20.

He said in almost 170 countries, people are likely to face a decline in average income over the previous year as well.

"The complete lockdown in India is one