The report said economic growth in South Asia in 2021 will be insufficient, at 6.9 per cent, to make up for the losses of 2020.
Care Ratings’ Economic Comeback Meter shows that the Indian economy has been on a comeback path, though there’s far more ground to cover.
And finding a job is getting even harder: Hiring in November slowed for a fifth straight month, with US employers adding the fewest jobs since April.
He also defended the contentious farm sector reforms, saying the Narendra Modi government had the courage to do what others could not.
Nagarro has offices in 25 countries globally with major centres in Romania, Austria, Germany, India, Mexico, the UAE and the US.
If this recovery holds, India is likely to emerge from Covid-19 having delivered relief to the much-needed rural and semi-rural sector.
Assuming a 5-6% trendline growth, the effective output loss during the first half of the current fiscal is upwards Rs 20 lakh crore.
India's economy showed a GDP contraction 7.5 percent in the July-September quarter and held out hopes for further improvement on better consumer demand.
Prime Minister Narendra Modi came to power on a euphoric wave of promises to boost India's economy, add millions of jobs and bring "good times" to the developing nation.