India: Trading Collapses Amid Virus Shutdown

Trading collapsed due to coronavirus shutdown in all key retail markets. Rising concerns about spread of COVID-19 within India. Surat polishing industry closed as the country enforces nationwide 21-day lockdown. Bharat Diamond Bourse in Mumbai closed. Government announces concessions to help small businesses with financial difficulties and prevent bankruptcies. Depreciation of rupee (-4% since March 1 to INR 75.2/$1) increases pressure on suppliers.

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