J P Chawla & Co. LLP

Fineprint Vol.8 2021

Despite the severe shock of Covid-19, India’s economy is poised for rapid growth, driven by factors such as widespread vaccinations, a recovering monsoon aiding agricultural output, government investments in infrastructure, and export growth. In August 2021, economic highlights included a surge in foreign direct investment (FDI) to $12.1 billion in May, a record-breaking issuance of green bonds worth Rs. 26,300 crore in the first half of 2021 by renewable energy developers, and predictions of a robust 18.5% GDP growth in the April-June quarter. Additionally, India witnessed a substantial 49.85% increase in exports in July 2021, reaching $35.43 billion, while also emerging as a top market for 5G devices. Meanwhile, auto retail sales surged by 34% in July 2021, reflecting a strong rebound. Looking ahead, investments of $27 billion are earmarked to enhance India’s refining capacity by 2025, underscoring the nation’s economic resilience and potential for sustained growth.

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