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Lockdown has not permanently derailed India's growth trajectory: Sajjan Jindal

Date: 12-05-2020
Subject: Lockdown has not permanently derailed India's growth trajectory: Sajjan Jindal
The nationwide lockdown has not permanently derailed India's growth trajectory, according to JSW Group Chairman Sajjan Jindal.

"It (India) will continue to see a long-term structural growth, which will drive demand for steel to support industrialisation, infrastructure-build and urbanisation," Jindal said as per a report by Hindu BusinessLine.

India is currently in a nationwide lockdown to contain the spread of COVID-19. The lockdown has forced many offices and factories to halt operations to maintain social distancing.

According to Jindal, the second half of the year might see strong demand.

"The start of this fiscal has been turbulent globally, but I am optimistic and believe that the economy will be on a V-Shaped trajectory with a strong demand in the second half of this year," he said as per the report.

Jindal added that government policies should support infrastructure projects and provide stimuli packages for growth.

He also said there is strong export-driven demand for steel, particularly in South-East Asia, China and West Asia.
The JSW Group Chairman also spoke about the impact of the lockdown on migrant workers, and the consequent impact on businesses.

"As economic activity resumes, I believe a strong plan involving India Inc, the government and labour representatives will assure migrant workers of economic and personal safety," he said.

Source:- moneycontrol.com

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