#ConsGenOfIndiaTorontoOffice; #Covid19; #EconomicRecoveryIndia; #InvestmentsInIndia
Toronto, Jul 22 (Canadian-Media): COVID-19 Pandemic has severely dampened the economic activities across the world. While recovery still seems distant, we are beginning to see green shoots of recovery in India, the Consulate General of India Toronto's office reports said.
COVID-19 Pandemic. Image credit: Twitter handle
Investor confidence has remained strong and we expect the domestic consumption to lead the restart of the economic engine. India is emerging as a magnet for investments by leading global tech and innovative companies even in this pandemic times.
Recent Investment (April-July 2020)
Google, the largest tech company in the world has announced that it would be investing $10 billion in India. The investment announcement came after a conversation between Sundar Pichai, Chief Executive of Google and our Prime Minister.
Google Tech. Image credit: Facebook page
Even in a pandemic situation, several other global leaders have announced large investments in the last 3 months itself. Some of these include; Google ($ 10 billion), Walmart ($ 1.2 billion), Foxconn ($ 1 billion), Facebook ($5.7 billion in India’s Reliance Jio Platforms), Qualcomm Ventures ($ 97 million), Thomson ($ 142.8 million), We Work Global ($ 100 million), Hitachi ($ 15.9 million), KIA Motors ($ 54 million) and Saudi Arabia’s PIF($ 1.6 billion). Other companies, including Hyundai Mobis, SGS, Axtria, f5, Tsuzuki, Samsung have also announced plans for major investments in India. Recent articles are attached.
Alphabet Inc. Image credit: Facebook page
India’s response to COVID 19
Despite the size of our population, the ratio of our positive cases per million remains the lowest at 538, and that of deaths per million remains at 15, compared to the global average of 1453 and 68.7 respectively. In addition to this, India has shown a robust recovery rate of nearly 64% with about 5.9 lakh recoveries in total. Our active cases remain around 3 lakh, while our fatality rate at 2.7% is much lower than the world average of over 5%. India has tested around 11.8 million people so far, making it one of the largest testing undertaken by a country.
India’s Covid strategy rests on the three pillars of testing, contact tracing and strict containment measures. Indigenously developed digital tools such as Aarogya Setu app are being widely used to predict emerging hotspots in the country. The Aarogya Setu app is presently being used by over 140 million people in the country.
An article written by the Foreign Secretary of India, Mr. Harsh Vardhan Shringla on India’s response to the global pandemic is attached herewith.