India’s Top 500 Companies 2022

INDIA’S TOP 500 COMPANIES 2022 11 Source: MOSPI, Economic Survey 2021-22, Petroleum Planning & Analysis Cell Indian Economy: Rebounding from sharp contraction The COVID-19 pandemic took a heavy human and economic toll in the first half of FY 2021, with both industry and services sectors registering a sharp decline in economic activities. Indicators like demand for electricity and petroleum consumption showed a steep decline, especially during Q1 FY 2021 pointing towards a fall in economic activity and mobility due to the pandemic-led lockdowns. Nonetheless, agriculture and allied activities lone turned out to be silver lining during the first half of FY 2021. While growth in private consumption and investment demand remained negative in the first half of FY 2021 due to weak consumer and investor confidence, sharp uptick in the government spending, especially during the first quarter cushioned the initial blow of the pandemic on the GDP. Economy in times of COVID Petroleum products consumption (million tonnes) - LHS Power consumption (giga units) - RHS Private consumption (%) Investment (%) GDP (%) Steep decline in economic activity and mobility due to the pandemic-led lockdowns GDP witnessed two consecutive quarters of contraction Q1 FY ‘21 Q2 FY ‘21 -23.7% -8.3% -45.3% -4.5% -23.8% -6.6% 0 80 100 120 5 10 15 20 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Decline in GVA in H1 FY21 -13.7% GDP Sharp contraction in industries in H1 FY21 -16.9% Industry Contraction in services i n H1 FY21 -15.0% Services Growth of agriculture sector in H1 FY21 3.1% Agriculture Dun & Bradstreet