India Review 2020 – a Recap of major Business Developments

2020 has been a challenging year for all of us. The outbreak of COVID-19 led to a pandemic that shattered both lives and businesses in previously unimaginable ways. Our world has changed. The immediate impact of COVID-19 on the Indian business ecosystem was distressing due to reduced demand of non-essential products and services, especially during lockdown period – the aftermath was evidently visible in GDP numbers witnessing substantial de-growth. In spite of all the uncertainty this year posed on the business front, the vision for ‘New India’ started to take shape with the nation marching ahead with a strong commitment towards becoming a self-reliant nation in every sector. The Indian Government implemented a judicious mix of fiscal and monetary policies to mitigate the impact of COVID-19 on the economy.