Q4 2020 Bosch Ltd Earnings Call Transcript
Thank you very much. Very good evening to all colleagues attending the con call and for you taking part. I hope each of you are doing well under these current challenging times. I would like to start with a brief about the macroeconomic factors influencing our business.
As we speak, the global economic environment is extremely challenging, with economic activity coming to a near standstill ever since the breakout of the COVID 2019. With greater depths to which activity has plummeted earlier in the April-June quarter and due to the rising risks of setbacks from further spread of the virus in some regions of the world, economists are developing the scenarios on global GDP forecast.
Overall, global GDP is expected to contract sharply between 5.9% to 8.7% in the calendar year 2020 and to likely recover sharply by 2% to 5.3% in calendar year 2021. In India, the government's response has been spontaneous and focused on containing the spread of COVID-19 with a nationwide lockdown since midnight of
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