With the ongoing outbreak of the COVID-19 global pandemic, the research community still struggles to develop early and reliable prediction and detection mechanisms for this infectious disease. The commonly used RT-PCR test is not readily available in areas with limited testing facilities, and it lags in performance and timeliness. This paper proposes a deep transfer learning-based approach to predict and detect COVID-19 from digital chest radiographs. In this study, three pre-trained convolutional neural network-based models (VGG16, ResNet18, and DenseNet121) have been fine tuned to detect COVID-19 infected patients from chest X-rays (CXRs). The most efficient model is further used to identify the affected regions using an unsupervised gradient-based localization technique. The proposed system uses a classification approach (normal vs. COVID-19 vs. pneumonia vs. lung opacity) using three supervised classification algorithms followed by gradient-based localization. The training, validation and testing of the system are performed using 21165 CXR images (10192 normal, 1345 pneumonia, 3616 COVID-19, and 6012 lung opacity). Simulation and evaluation results are presented using standard performance metrics, viz, accuracy, sensitivity, and specificity.