India with its population of 1.37 billion is the fifth largest economies in the world.
India is no exception. Covid 19 and a nationwide lockdown has resulted in contraction of the economy however data collected by Bloomberg shows that IT sector has not suffered and expected to rise in the coming period. The fast-moving consumer goods industry is relatively less impacted by the pandemic as people continued to stock up on essentials during the lockdown.
According to a survey by consulting firm Deloitte Touche Tohmatsu India LLP in September 2021,
India is an attractive investment destination for developed economies as 44% of 1,200 global business leaders based in the US, UK, Japan, and Singapore plan to make additional or first-time investments in the country, but more business leaders, especially in Japan, find India lucrative for its domestic market rather than as a hub for exports. Despite economic disruption due to the Covid-19 pandemic, inflow of foreign direct investment (FDI) in India amounted to a record $81.72 billion, 10% higher than the previous fiscal year, and this trend would continue, it said in the report, ‘India’s FDI opportunity’. Significantly, among first time investors [57% of 1,200 respondents], find energy infrastructure a lucrative segment, reflecting India’s plans to significantly grow its renewables capacity, followed by financial services (49%) and healthcare (48%) sectors, according to the survey.
India has been one of the fastest growing economies in the world. In the past years lot of changes have occured in India. India's gross domestic product (GDP) (at constant 2011-12 prices) was estimated to be Rs 145.65 lakh crore (US$ 2.06 trillion) for 2019-20, growing 4.2 per cent over the previous year. India retained its position as the third largest start-up base in the world with over 8,900-9,300 start-ups as 1,300 new start-ups got incorporated in 2019 according to a report by NASSCOM.
Tourism, travel, construction, automobile are the industries that contracted the most. Oil and gas has relatively not being impacted.