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Why India has little option but to open up the economy

India has had little option but to open up the economy. This is because of several reasons. First, some regions, where the spread has been faster, have reintroduced containment measures, which will adversely impact economic activity.

Second, the partial unlocking of the economy and the back and forth on containment measures will continue to pose a hindrance to supply chains, transportation and logistics. “After two quarters of contraction, we foresee mild growth in the third quarter.”