India’s economy is projected to grow at 7.3 percent in 2021, even as it is estimated to contract by 9.6 percent in 2020 as lockdowns and other efforts to control the COVID-19 pandemic slashed domestic consumption, the UN has said. 

"Agriculture sector has exhibited significant resilience in the face of the pandemic. Higher rabi acreage, good monsoons, higher reservoir levels, and strong growth in tractor sales indicate continued buoyancy in the sector," Ficci stated on the survey findings. 

“The devastating socio-economic impact of the COVID-19 pandemic will be felt for years to come unless smart investments in economic, societal, and climate resilience ensure a robust and sustainable recovery of the global economy. 

The pandemic and the global economic crisis have consequently left deep marks on South Asia, turning this former growth champion into the worst-performing region in 2020. 

While trade, remittances, and investment are expected to pick up in 2021, as much of the global economy moves towards recovery from the widespread lockdown, investment and domestic consumption in many South Asian countries will nevertheless remain subdued owing to the continuing threat of the pandemic and the scarring effects of the crisis,” the report said.