"IMPACT OF COVID-19 ECONOMIC GROWTH ON MANUFACTURING SECTOR IN INDIA"

Abstract: The COVID-19 pandemic has probably given the biggest blow to the world economy after the great depression of 1930s. Around 60 per cent of the world population is either under severe or partial lockdown without having medical solution to the corona virus and economic activity across countries, and significantly taken away millions of livelihoods. A year ago, it seemed certain that the shifting global dynamics due to COVID had the potential to pave India's way into the manufacturing sector. Come 2021, India is in wouhhhhuhhrst grip of a variant of the novel corona virus. Manufacturing in India has come to a near standstill. As the sector with the maximum amount of backward and forward linkages, manufacturing crucially sustains and propel economic recovery. World economy is heading for a recession and India is no exception. The situation is working its way through a highly globalized world with interconnected production networks and financial markets. India being densely populated country with inadequate medical facilities was left with no option but to follow the policy of lockdown. As a result of the pandemic, the global economy is projected to contract sharply by −4.9 per cent in 2020, much worse than 2008–2009 financial crisis (International Monetary Fund [IMF],2020). The fall out of the COVID-19 on Indian economy is going to be huge, because of its own lockdown, which was necessary to contain the spread of corona virus, and also because of India’s integration with the rest of the world