INDIA’S TRADE AND COMMERCE POST COVID19

Abstract

Despite the fact that the corona virus's spread has impacted every element of human existence, including social and cultural, political, or any other facet of human behavior in that setting. Yet, the economic component of human life has been most severely impacted. An estimated 14 crore (140 million) individuals lost their jobs during the lockdown. Around the country, more than 45% of households have reported lower incomes than the year before. After the coronavirus epidemic, the government of India imposed a complete lockdown for the first 21 days. At this time, it was anticipated that the Indian economy would lose more than 32,000 crore (US$4.5 billion) every day. Less than 25% of India's $2.8 trillion economic movement was operational while the country was in total lockdown. With an emphasis on the trade sector and development issues, this article aims to analyze the macroeconomic effects of the COVID-19 on the Indian economy. Also, the report discusses how key aspects of growth that pertain to development are being neglected as a result of the epidemic. The exercise makes the case for policy stimulus with a sectoral focus, which should again be adjusted across Indian states rather than having a standard policy, in order to fully realize the potential of the trade sector in igniting engines of growth.