Read more about Amid Covid-19 pandemic, exports could come as a saviour for India on Business Standard. The global trading environment is very encouraging, as developed countries have increased the pace of vaccination and are reporting lesser numbers of infections
The alarming rise in Covid-19 infections in recent weeks and partial lockdowns and restrictions in many parts of the country have increased uncertainty regarding the pace of economic revival. Given the strong possibility of modest-to-severe disruptions in domestic supply chains and contraction in domestic demand, the best hope for posting reasonable economic growth comes from improved export prospects. Last week, the Prime Minister spoke about the enormity of the challenges the country faces in the health sector and assured the people that necessary steps will be taken to cope with the crisis. He said that total lockdowns should be the last resort. Despite his assurances, worries persist regarding the ability of the administration to manage the situation. Surely, significant resources will have to be diverted to address the health emergency, and to that extent, the funds for economic development will be constrained. The global trading environment, however, is very encouraging.
