+
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
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code