This would be the biggest financial stimulus of all. A rapidly declining infection rate would have an effect on the economy and kick start the service sector which accounts for 54% of the country’s GDP.
The US wants greater access to Indian markets and a limited trade deal, hammered out in the Biden era, will enhance relations between the two nations as strategic partners in a multipolar world.
By committing to export vaccines to the rest of the world, despite its massive internal requirements, Modi has once again demonstrated that his government has put global demand on par with domestic necessity.
Data reveals that the country’s economy is turning the tide, the people must now demonstrate more awareness and take precautions to influence a huge push towards bringing down the infection rates.
India’s economy is getting warmed up and any dire predictions made towards it at this point are exaggerated. The negative lining brought about by Covid-19 will soon be tempered and it will be business as usual for India.
Rural India have reported a great revival and the signs of this growth are visible in important sectors like airline travel, hotel bookings and vehicles sales.
The $14-billion programme to build farm gate infrastructure can prevent wastage of farm produce worth $40 billion, transform the face of rural India and open up massive opportunities for foreign and domestic investors in India’s agriculture sector.
Indians are returning to the workplace, pay hikes are forecast, the markets are spiking, imports have fallen and a vaccine is in sight. Significant growth is being forecast for the next four quarters.
Production Linked Incentives (PLIs) ensure that a good report card will be obtained as the authorities focus on multiple sectors to keep inducing growth and investment