2.4 INDIA

Even as the Indian economy was gradually opening up after the first wave of COVID-19 that led to extensive lockdowns, the second wave hit most parts of the country from April 2021 and interrupted recovery. From June 2021, recovery has been underway. The second wave had less of an impact on the supply side; consumer demand also continued to recover; and there was limited impact since the lockdowns imposed were state-wide as against nationwide lockdowns during the first wave. Targeted government initiatives also helped.