COVID 2nd wave may have more lasting damage on India's economy, exports to drive recovery:

27th July,2021

COVID 2nd wave may have more lasting damage on India's economy, exports to drive recovery:


According to Moody's Analytics' 'APAC Economic Outlook: The Delta Roadblock,' social distance is dragging on the current quarter, but economic recovery will resume by the end of the year. According to Moody's Analytics, the second wave of COVID-19 may do greater long-term harm to the Indian economy, and exports will once again be the cornerstone for recovery. According to Moody's Analytics' 'APAC Economic Outlook: The Delta Roadblock,' social distance is dragging on the current quarter, but economic recovery will resume by the end of the year. The Delta variation of COVID-19 is one of the variables currently hurting Asia-Pacific (APAC) economies, although the economic impact of the current round of movement restrictions in the area will be less severe than the recessions seen in the second quarter of last year. High commodity prices have enhanced the value of expos in India, where exports account for a modest percentage of the GDP. "While the pandemic's second wave, which is now ending, may cause more long-term economic harm because the pandemic's one-two punch impacted small businesses particularly hard, exports will once again be the basis for recovery," it added.