India: A long, winding, and uncertain road to recovery has been saved
India: A long, winding, and uncertain road to recovery
Latest insights on the Indian economy: After reporting a steep drop in GDP, can India turn crisis into opportunity and emerge stronger on the other side of the pandemic?
Hit by COVID-19, economies across the globe are discovering that the road to recovery is bumpy. India is no exception. The extent of contraction in its GDP in Q1 FY2021 reflects the severity of the blow to its economy due to the pandemic-induced lockdowns and social distancing norms between March and May. While the staggered reopening of the country over the following months improved economic activity, concerns around the sustainability of this early rebound remain.
Uncertainties around COVID-19 continue to abound. Building a stronger infrastructure and social capital, such as the health of people and industries, will likely drive resilience.