 In my next couple of discourses and talks, including the current video, I will be talking about the impact of COVID-19 or coronavirus on the Indian economic scene. In this video, I will give a brief overview and in the subsequent talks, I will attempt to touch upon some specific areas of industry and businesses. It is stated by some experts that in India, 50-60% of businesses will be affected due to COVID-19. Numerous businesses such as hotels and airlines are cutting salaries, as you already know, and laying off employees. Hundreds and thousands of transactions, documents are on the verge of collapsing on the premise of force-major clause. For instance, OYO has invoked the force-major clause in its agreements with hotel owners and several other business partners. This allows OYO to effectively suspend minimum guarantee payments to the hotels. Under the minimum guarantee model, hotel owners have to be paid a minimum amount regardless of the volume of business generated. But many angry hotel owners said the clause was never included in the original agreements. In the letter invoking force-major, OYO has also reportedly proposed fresh revenue-sharing models which would replace the existing agreements. In fact, Federation of Hotel and Restaurant Associations of India has received complaints from hotel owners with regard to the said letter. The live events industry has seen an estimated loss of more than 3000 crore rupees, that is more than US$420 million. Supply chains have also been put under stress with the lockdown restrictions in place and lack of clarity in streamlining what is an essential and what is not. Those in informal sectors or daily wage groups are the most at risk and affected. A large number of farmers as well around the country who grow perishable are also facing uncertainty. Amazon and Walmart-owned Flipkart announced that it would stop the sale of non-essential items in India so that it could focus on essential deliveries. Other fast-moving consumer goods companies in the country have significantly reduced operations and are focusing on essentials. Major companies in India such as L&T, Bharat Forge, Ultratech Cement, Grazium Industries, Aditya Birla Group, Tata Motors and Thermax have temporarily suspended or significantly reduced operations. iPhone-producing companies in India have also suspended a majority of operations. Young startups have been impacted as funding has fallen. Stock markets in India posted their worst losses in history on 23rd March 2020. However, on 25th March, one day after a complete 21-day lockdown was announced by the Honourable Prime Minister, Sensex and Nifty posted their biggest gains in 11 years, adding a value of Rs 4.7 lakh crore, US$66 billion to invest wealth. The Government of India has announced a variety of measures to tackle the situation from food security and extra funds for healthcare to sector-related incentive and tax deadline extensions. On 27th March, the Reserve Bank of India also announced a number of measures which would make available 374,000 crore, that is US$52 billion, to the country's financial system. On 29th March, the Government allowed the movement of all essential as well as non-essential goods during the lockdown. On 1st April, the World Bank has approved a fast-track US$1 billion India COVID-19 emergency response and health systems preparedness project. This is to help India prevent, detect and respond to the COVID-19 pandemic and strengthen its public health preparedness. This being the largest ever health sector support from the Bank to India. Well, times are trying and testing but Modi Government's strong resolve promises trust, hope and confidence.