Impact of COVID-19 on the Sectors of the Indian Economy and the World

Abstract

It is known that the SARS-CoV2 (More popularly known as Corona Virus) has affected the way countries function. It has influenced the general health and economy of various countries. Earlier studies have discussed the economic repercussions of various epidemics qualitatively. This paper discusses employing correlation analysis in combination with machine learning techniques to determine the impact of the virus on country’s economic health. The results are justified by the trends seen in pre-COVID, COVID and post-COVID phases there by providing a base for predicting economic conditions of the world in case of any such pandemics in the future. The study includes country-wise analysis for which fifteen country’s economic data is analyzed and sector-wise impact analysis with a specific case of India has been attempted. © 2023, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.