Daily Briefing: India GDP forecast trimmed to 1%; Chip shortage to continue

And Vietnam plans to test 9 million people for COVID-19.

From CNBC:

India’s economy is expected to have improved in the first quarter by 1% amidst the devastating second wave of the COVID-19 pandemic.

This is according to economists polled by Reuters, which led to a median forecast of 1.0% for the first three months of 2021. However, the same economists are less upbeat about the second quarter.

India is the second worst-infected country in the world, behind the United States of America, with more than 28 million cases and 329,000 deaths.

Read more here.

From CNA:

Intel CEO Pat Gelsinger said it will take several years for the global shortage of semiconductors to be resolved. The shortage has become a bottleneck to the production of electronics.

“But while the industry has taken steps to address near term constraints it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components,” Gelsinger said in a virtual session of the Computex trade show in Taipei.

Read more here.

From AP:

Vietnam is set to test all 9 million people in its largest city, Ho Chi Minh, for COVID-19.

With a planned testing capacity of 100,000 samples a day, Vietnam plans to curb the spread of the pandemic in it economic centre.

This is after 145 cases were reported with links to attendees of a religious gathering.

Read more here.