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Outlook of Indian Economy:

The year 2020 was dominated by the COVID-19 pandemic and the ensuing global economic downturn, the most severe one since the Global Financial Crisis. The lockdowns and social distancing norms brought the already slowing global economy to a standstill. Global economic output is estimated to fall by 3.5 percent in 2020. This, in turn, posed the most formidable economic challenge to India and to the world in a century. Bereft of a cure or a vaccine, public health policy became central to tackling this all-pervasive crisis. The imperative of flattening the disease curve was entwined with the livelihood cost of an imminent recession, which emanated from the restrictions in economic activities from the lockdown required to contain the pandemic. This inherent trade-off led to the policy dilemma of "lives versus livelihoods".

The Reserve Bank of India has estimated a growth projection of 9.5% for the year 2021-22 against 7.3% in 2020-21 The economy is expected to perform better than expected in the second half of the year.

Industry Overview:

Liquefied Petroleum Gas (LPG):

With Indias economic growth closely linked to energy demand, the need for oil and gas is projected to grow further, rendering the sector a fertile ground for investment.

Textile:

With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade. Changing lifestyles and increasing demand for quality products are set to fuel the need for apparel. The sector contributes  14% to industrial production, 4% to Indias GDP and constitutes 13% of the countrys export earnings.

The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand.

Agriculture Industry:

Given the importance of the agriculture sector, the Government of India, planned several steps for the sustainable development capacity building of agriculture. The 12th Five-Year Plan estimates the food grains storage capacity to expand to 35 MT. Also, 4 per cent growth would help restructure the agriculture sector in India in the next few years.Government has announced 100% FDI through FIPB route for marketing of food products that are produced or manufactured in India and also to make food trade and processing industry more efficient

Factors such as reduced transaction costs and time, improved port gate management and better fiscal incentives would contribute to the sectors growth. Furthermore, the growing use of genetically modified crops will likely improve the yield for Indian farmers.