India’s global economic recovery positive: EY report

28 Jun 2021 CW Team

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

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..