Why India's economy is showing signs of a recovery despite pandemic
Updated Sep 13, 2021 03:12 am
- India's economy is showing signs of bouncing back as the country's festive season gets underway, which traditionally gives a boost to consumer-dependent sectors. But analysts say there is still a way to go for a full recovery and risks remain amid fears of another possible surge in Covid-19 infections.“While green shoots are visible in certain sectors of the economy, we cannot still be very confident that the worst is over for the economy as a whole,” says Jyoti Prakash Gadia, managing director of investment bank Resurgent India. The latest government data shows India's gross domestic product grew by 20.1 percent in the April to June quarter.
- This compares to a low base during the same period in 2020, when the country imposed one of the world's strictest nationwide lockdowns in response to the pandemic, pushing the country into a recession.