Monday, September 21, 2020

    PM Modi: India returning to normal biz activity; consumption, demand rising

    Prime Minister Narendra Modi said India's business activity is returning to normal levels and that demand and consumption in many sectors are fast approaching pre-COVID levels. "India has come out of big crises in the past and it will come out of the present one as well," Modi said.


    Ajay Nirmal
    Graduated from Mumbai University, Ajay brings in the latest news across sports, tech, and world news. Ajay loves talking on tech, latest news, and events.

    Prime Minister Narendra Modi on Thursday said business activity in India is returning to normal levels with consumption and demand fast approaching pre-COVID levels.

    A protracted lockdown imposed to curb spread of Coronavirus has resulted in severe disruption of industrial production and consumer spending, with GDP growth forecast to contract sharply.

    Speaking at the launch of commercial coal mining, Modi said business activity was fast returning to normal levels.

    “Consumption and demand are now reaching pre-COVID levels,” he said.

    He cited rise in electricity demand and fuel consumption among others to point to recovery.

    “These indicators point to Indian Economy fast preparing to bounce back,” he said. “India has come out of big crises in past and it will come out of present one as well.”

    India’s growth and success is guaranteed, he said propagating his idea of making the country self-reliant by cutting imports.

    “Just until a few weeks back, we used to import N-95 Face Masks, corona testing kits, personal protective equipment (PPE), and ventilators. But now we have become self-reliant and are also in a position to export some medical equipment,” he said.

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