: Indian economy is witnessing a robust recovery, says Piyush Goyal #finance #StockMarketNEWS Indian economy is witnessing a robust recovery, says Piyush Goyal New Delhi, Jun 2 (KNN) Union Minister

Indian economy is witnessing a robust recovery, says Piyush Goyal #finance #StockMarketNEWS
Indian economy is witnessing a robust recovery, says Piyush Goyal New Delhi, Jun 2 (KNN) Union Minister of Commerce and Industry Piyush Goyal has said that Indian economy is witnessing a robust recovery and is on track to surpass pre-COVID-19 levels.

The Minister during the review meeting with industry associations over the present and future challenges because of COVID-19 pandemic, said, "The second wave of COVID-19 has been difficult for all of us. It is the pro-active role of the industries, resilience and commitment that will ensure our comeback with greater strength. Our economy will bounce back soon post-COVID successfully. "

"Indian economy is witnessing a robust recovery and is on track to surpass pre-COVID-19 levels. The FDI during the COVID-19 period has been the highest ever, as we have FDI of 81. 72 billion dollars in Financial Year 2020-21, more than 10 per cent than FY 2019-20 There was a record freight loading as railways loaded highest ever freight of 114. 8 MT in May 2021 which is 9. 7 per cent higher than previous best of 104. 6 MT in May 2019. Since the last 9 months, Railways is continuously loading the highest ever freight in respective months," he added.

Commenting on exports, he said, "The exports in April 2021 have surpassed the pre-COVID-19 figures. Merchandise exports in April 2021 were 30. 63 billion dollars. Even during May 2021, when the daily active cases were peaking in the country, the exports did very well. "

Goyal also said that in the recent past, due to the rapid rise in COVID-19 cases, industrial production was severely impacted due to lockdowns, non-availability of oxygen, migration of workers, and the spread of the Coronavirus amongst the workforce.

"It is expected from industry associations to draw upon the lessons learned from past experiences to meet the present and future challenges. We should focus on learning to build resilience for future outbreaks by building Adequate Health facilities," the Minister said.

The Union Minister called upon the industry associations to help the children impacted by the COVID-19.

"We should find an equitable balance between our lives and livelihoods. We should find an equitable balance between our lives and livelihoods," he added.

The Minister called upon the industry associations to prepare a comprehensive checklist that needs to be followed for a possible 3rd COVID wave, covering various measures. He also assured full support from the government in overcoming the bottlenecks and hurdles.

DPIIT and DGFT have been running helplines to support their stakeholders, he added.

Industry representatives, including those from CII, FICCI, ASSOCHAM, PHD chambers of commerce and industry, and others shared their experiences and preparedness in case a 3rd wave of Covid-19 occurs.