India is not one of the most attractive emerging markets right now

We expect global growth to level off to 0.7 per cent in 2020 (before corona we estimated 2.9 per cent).

We have to be mindful. The situation is like catching a falling knife as the current measures are extremely damaging to the global economy. Forecasting at this moment is difficult due to the huge amount of uncertainty. It feels like shooting at a moving target with a blindfold on. Nevertheless, we have some figures to hold on to as a number of weeks ago we started a scenario analysis. In this scenario analysis, we tried to replicate how the virus is affecting different parts of the global economy.

We have made assumptions on, e.g., exchange rate movements, lockdowns in countries