"A tentative recovery in volumes is underway, which is being counteracted by rising raw material prices and to a smaller extent employee costs. "The next leg of sequential recovery may emerge from services which has been a laggard so far, while government spending may also improve at the margin," Emkay Global's Lead Economist Madhavi Arora said. "We see FY21 growth at (-)7.1 per cent with a mild downward bias. It is important to undertake structural reforms to accelerate the pace of investment in order to reclaim a high growth trajectory. "In addition, experts cited India Inc's massive shift to e-com, acceptance of higher safety standards and inculcation of efficiency boosting measures as other notable trends during this historic period.

Source: Economic Times December 26, 2020 02:52 UTC