India’s GDP has just dropped by a whopping 24% in the last quarter, one of the biggest drops globally. The core reason for this significant decline was that India had one of the strictest COVID 19 economic lockdowns in the world.
This greatly and negatively affected the livelihoods of millions of Indians. So what can Indians do to repair their economy and increase lost incomes for their millions of citizens? A study has shown almost all countries need to grow and establish new Global Value Chains (GVC). Almost nothing has been proven better to raise incomes and reduce poverty, while requiring very little government involvement or costs.