There is a fast expansion in India’s economy, revealing recovery, Narendra Modi, India’s economic advisor said recently. The figures in economy have improved: a growth by 0.4% year over year in the fourth quarter. This is while the second and third quarters saw a recession, 7.3% and 24.4% respectively.
Subsequent to the latest GDP data, the country’s finance ministry announced that the economy rates have turned positively back to the time before the pandemic.
Anantha Nageswaran, member of Economic Advisory Council to the Prime Minister in his interview with CNBC said initial indicators in the months of for January and February reveal recovery has stepped up and will quickly go on.
Nageswaran also believes that the vaccine spread can bring lost confidence back in business. Exporting is important to redraw investors from around the world and grow the country’s manufacturing potential, he said.