Impact of The First and Second Wave of COVID-19 on Indian Economic Growth

This study investigated the impact of Novel Coronavirus on India’s export and import. It gives an overview of coronavirus-infected countries in the world. Moreover, the paper identified the opportunities which are still available in the nation. Nearly 51.4 lakhs of people deceased due to Novel Coronavirus infection across the globe which resulted in continuous lockdowns and trade blocks among the countries. India's trade is highly dependent on neighboring countries like China, Indonesia, Korea, Japan, Singapore, Malaysia, the USA, and the European Union. The 1st wave of COVID-19 started in India on 15th March 2020 and ended on 30th June 2020. During this wave, the Indian GDP is also very badly affected by -7.3%. Due to the national-wise lock-down, the trade growth rate was marked negatively, especially the hotel (-15.6%), construction (-8.6%), finance, and real estate (-8.1%). However, the hope of growth remained with manufacturing (+0.6%), and agriculture (+3.4%). The 2nd wave occurred in India from 01st July to 15th October 2021; the Indian economy shrank the Indian GDP by -24.4 due to the national-wise lockdown. The tourism and hotel; oil and gas; and textiles industry are marked more negatively influencing the GDP. But again, the traditional industries like farming and pharmaceuticals, minerals, metals & mining, textile industry are more positively contributed