India’s global economic recovery positive: EY report
ECONOMY & POLICY

India’s global economic recovery positive: EY report

Consultancy firm EY said in a report that India’ global economic recovery is positive.

According to EY's Economic Pulse report, India's exports have performed well, and its total exports of goods have increased by 59% over May 2020 and stayed stable compared to April 2020.

Due to the second wave of Covid-19, the exports in India took a hit in April, and a slight increase accounted for in May. Export services grew by 6% vis-a-vis in May 2020. India's total imports of non-oil goods have decreased by 17% in May over April 2021.

The reports said that the sales of fertilisers in the rural economy in April 2021 have declined vis-a-vis in April 2020. The tractor sales have also sharply fallen in April-May 2021. It highlights that the rural economy has been impacted due to the Covid-19 pandemic.

The Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) data indicated that the migration of laborers from cities to rural areas have been limited in the Covid-19's second wave.

Overall, it said that both the recorded Covid-19 cases and deaths are declining, and the vaccination of the entire population is the best strategy for the country's economy.

Image Source


Also read: India's economy contracts 12% in Q1 FY22

Also read: Government plans to take measures to boost Covid-affected economy

Consultancy firm EY said in a report that India’ global economic recovery is positive. According to EY's Economic Pulse report, India's exports have performed well, and its total exports of goods have increased by 59% over May 2020 and stayed stable compared to April 2020. Due to the second wave of Covid-19, the exports in India took a hit in April, and a slight increase accounted for in May. Export services grew by 6% vis-a-vis in May 2020. India's total imports of non-oil goods have decreased by 17% in May over April 2021. The reports said that the sales of fertilisers in the rural economy in April 2021 have declined vis-a-vis in April 2020. The tractor sales have also sharply fallen in April-May 2021. It highlights that the rural economy has been impacted due to the Covid-19 pandemic. The Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) data indicated that the migration of laborers from cities to rural areas have been limited in the Covid-19's second wave. Overall, it said that both the recorded Covid-19 cases and deaths are declining, and the vaccination of the entire population is the best strategy for the country's economy. Image Source Also read: India's economy contracts 12% in Q1 FY22 Also read: Government plans to take measures to boost Covid-affected economy

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement