“Countries with much better economies, health and infrastructure systems are succumbing to the pandemic, which is a lesson for India. We are fortunate that our journey is in another direction where the cases are showing a downward trend. Recoveries are soaring, and active cases are falling,” he added.

Economists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak hit the consumption of goods and services. While inventory re-stocking will underpin business activity in the coming months, the improvement might still not be enough to prevent Asia’s third-largest economy from contracting in the financial year to March 2021.