US Treasury hails India's strong recovery despite three Covid waves
India's economy recovered strongly despite 3 COVID waves, says US Treasury report The Indian economy has rebounded strongly despite three significant COVID-19 waves, the US Treasury has said in a report to Congress.
India's acute second wave weighed heavily on growth through the middle of 2021, delaying its economic recovery, the Treasury said in a semi-annual report. "However, economic activity rebounded strongly in the second half of the year as India's vaccination rollout accelerated," the Treasury said on Friday, as it praised India's vaccination efforts.
As of the end of 2021, about 44 per cent of India's population was fully vaccinated, it said. After contracting seven per cent in 2020, the output returned to pre-pandemic levels by the second quarter of 2021, with full-year 2021 growth of eight per cent, it added.
Since the beginning of 2022, India faced a third major outbreak driven by the Omicron variant, but the number of deaths and broader economic fallout has been limited, it said.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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