After the Corona Tsunami, this country’s economy is predicted to fly

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Jakarta, ONENEWS.MY.ID – Indian Ambassador to Indonesia Manoj Kumar Bharti said his country’s economy would continue to grow despite the Covid-19 pandemic.

“You may notice that the Indian economy is showing tremendous resilience. In 2019 and 2020, we were hit quite badly. But now it has rebounded quite significantly,” Manoj said in the Prime Words program. ONENEWS.MY.ID, Wednesday (5/1/2022).

According to Manoj, India was able to survive thanks to the agricultural sector which was not affected by the pandemic and instead continued to grow. After the restrictions on mobility, the service sector is growing again.

“The industry is showing a rapid rebound, which has helped India a lot,” he said. “India’s economy is expected to continue at a rate of over 8% in the next year.”

Manoj said the Indian economy expects to be in the 5% range between 4.5-5.5% in 2021. While in 2022 and beyond, India expects to return to the 8-10% range.

“As I said, the underlying dynamics of the Indian economy continue to be strong. Based on the industry and financial stability alone, we believe that we can do even better in the years to come,” he said.

The strength of the Indian economy is involved in the trade figures with Indonesia which are said to be very substantive. In 2019, bilateral trade between the two countries reached US$ 20 billion (Rp 287 trillion).

Meanwhile, in the latest figures, according to figures released some time ago, the total bilateral trade has almost reached US$ 17 billion (Rp 244 trillion) between January-October 2021.

Unfortunately, said Manoj, India’s trade target with Indonesia before the pandemic, which reached US$ 50 billion or Rp. 717 trillion (assuming Rp. 14,300/US$) in 2025, will be difficult to achieve due to the ongoing Covid-19 pandemic.

[Gambas:Video CNBC]



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