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News In Brief Business and Economy

Festive Season Brings India Back In Business

News In Brief Business and Economy

Festive Season Brings India Back In Business

festive-season-brings-india-back-in-business

News Synopsis

The festive season has brought growth and increase in business as people are stepping out to shop and explore new markets and products. Reports are saying that there has been a 23% increase in exports in the country. There is a notable increase in demand for goods such as gems, jewelry, coffee, petroleum, engineered products, and several other varieties. Overall, we can say that the Indian economy is indicating signs of recovery and growth as people step out to shop and purchase, signalling that India is the world’s fastest-growing economy.

An increase in the workload added to manufacturing units and demand for bank loans is hinting that India is indeed on its way to recovering from the damages of the covid-19 pandemic. As the festivities kicked off in September, the economy has been in a better place since then. The estimated gross domestic product for this year is 9.5% ending in March. Factors that contribute to the growing economy are- business activities, increased exports, increased consumer activity, industrial activity and lastly, the infrastructure industry has been expanding as well, these growth indicators are signalling a positive outline throughout the timeline of 2021 and the chances of improving are underway.  

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