"The COVID-19 pandemic has led to a significant disruption in the way of life, business, and governance. As the world dealt with the dramatic loss of life and managed unprecedented stress on the public healthcare systems, millions of enterprises faced an existential threat. Amidst this crisis, all segments of the Government, industry, and society joined forces to ensure a swift response to the pandemic, ensuring support and assistance percolates to the bottom of the pyramid." "In India, the economic recovery has been supported by effective policy interventions, minimising the impact of supply chain disruptions. On the one hand, the Government focused on an extensive vaccination drive and relief measures for the vulnerable segments; on the other, it stepped-up measures to support ailing sectors struggling post the second wave."

"India’s economic recovery is highlighted by the positive movement that various high-frequency indicators have displayed, with many rallying to pre-pandemic levels. At the same time, India is on track to achieve various ambitious targets it set for itself. The US$400 billion merchandise exports target is a prime example of India repositioning itself as a critical global hub across sectors. The Union Budget 2022-23 set an ambitious capital investment plan to further fuel the growth momentum."