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

Real Estate

23 Oct 2025

Marathon, Adani Launch Rs 34 Bn Commercial Project in Mumbai

Marathon Nextgen Realty, in a joint venture with Adani Realty, has announced Monte South Commercial, a major office and retail development in Byculla, Mumbai. With a built-up area of approximately 1.2 million sq ft and an estimated Gross Development Value (GDV) of Rs 34 billion, the project significantly strengthens Marathon’s commercial portfolio in South Mumbai.Monte South Commercial is part of the larger Monte South campus, which includes four residential towers totalling over 1.6 million sq ft of saleable area. Tower A is ready with its Occupation Certificate (OC), Tower B has topped out..

PTC Industries and BDL Form JV for Missile and UAV Propulsion

PTC Industries, a leading manufacturer of high-performance materials and precision-engineered components for Defence and Aerospace, has signed a Memorandum of Understanding (MoU) with Bharat Dynamics (BDL) to establish a Joint Venture (JV) for the design, development, and manufacture of propulsion systems, aero-engines, guided bombs, and loitering munitions for missiles and UAVs, subject to regulatory approvals.The MoU was exchanged during the Lokarpan Ceremony of PTC’s Titanium & Superalloys Materials Plant at the Strategic Materials Technology Complex (SMTC), Lucknow, in the presence o..

J&K Bank Reports H1 Net Profit of Rs 9.79 Bn, Q2 at Rs 4.94 Bn

J&K Bank announced a net profit of Rs 4.94 billion for the July–September quarter (Q2) of the current financial year (CFY), bringing its half-year (H1) net profit to Rs 9.78 billion, up from Rs 9.66 billion in H1 last fiscal. The results were approved by the Bank’s Board of Directors at a meeting held at its Corporate Headquarters.The Q2 performance was moderated by Rs 920 million provisioning towards its investment in Jammu and Kashmir Grameen Bank following the amalgamation of Ellaquai Dehati Bank under the “One State, One RRB” initiative. Total provisioning for H1 stands at Rs 1..