The year 2021 has been a roller coaster ride after the outbreak of COVID-19. The starting months of the year started experiencing recovery from the pandemic, with many industries bouncing back. Compared to pre-Covid levels, the profits experienced in various sectors were a little low but were returning to normality.
According to the Ministry of Statistics and Programme Implementation (MOSPI), the Industrial production in India increased 3.2% year-on-year in October of 2021, compared to an upwardly revised 3.3% rise in September and forecasts of a higher 4% rise. It is the smallest gain in industrial output since the sector started to recover in March this year. Manufacturing added 2%, electricity 3% and mining jumped 11.4. Now with the outbreak of omicron Indian states are imposing lockdowns again.
Let us take reviews from various industries experts to it better.
Kanwal Kumar Kandhari, Founder & CEO at Kumar and Associates said, “Fast construction, cost-effectiveness and durability made container-based construction quite popular among people looking for residential and commercial space solutions in the closing year. The industry witnessed an encouraging jump in the demand and pandemic-induced restrictions on concrete construction fuelled the same. The fast-emerging segment of real estate is not only providing much-needed space in a short time but also giving the pleasure of aesthetic beauty that has become a new trend in the last few years, attracting the attention of customers of both the segments residential and commercial equally. Furthermore, with the increase in economic activities and the requirement for spaces, it can be anticipated that the demand for container-based construction will see a rise in the New Year.”
Many are with the view that opening of infrastructural projects will offer myriad opportunities.
“With various infrastructure projects such as Jewar Airport are expected to be dedicated to Noida in the near future, the region will witness an accelerated pace of development. This will have an encouraging impact on almost every sector. The power and electrical equipment industry will play a vital role in facilitating the growth of the region. All kinds of projects such as residential, commercial and other infrastructure developments require an unhindered power supply and state-of-the-art electrical equipment to serve the purpose while ensuring sustainability. The sector is on the path of perpetual evolution and it will have to create such products as per the global norms while following sustainable practices. A rise in the demand for power and electrical tools is quite clear, giving stimulus to the sector to flourish in the days to come,” said Manoj Kumar Chaudhary, Founder & Director Vensor Electricals Pvt. Ltd.
Another Industry expert also looks positive for the new year.
“2021 has been a phenomenal year for startups/Fintech sectors. In this 75th year of independence India has 84 unicorns, more than 50,000 start-ups. Of these, 10,000 have come only in the last 6 months. Today India has emerged as the second-largest startup hub in the world. Fintech and ecommerce remained the most sought-after segment within startups in 2021. 44 Unicorns in 2021 and USD 62 billion was raised by Unicorns in 2021. We are hopeful for 2022 also,” said Jitin Bhasin, Founder & CEO, SaveIN