The demand shock wrought by the Covid-19 pandemic hit corporate India and turned the economic outlook for the current fiscal bleak, plunging the Indian economy into recession. But some bright spots emerged - agriculture and allied industries. The agriculture sector grew by 3.4% on-year, while the overall economy shrunk by 15.7% in the first half of this fiscal, providing impetus to recovery for allied sectors as well.
With about half of India's population dependent on agriculture, its performance plays a crucial role driving consumption for agri-dependent sectors such as tractors, two wheelers, agrochemicals, and fertilisers. Two consecutive bumper harvests in the last rabi and kharif seasons and higher prices for agricultural products have augured well for the farm economy. Above normal and well distributed monsoon this year is only expected to keep the streak going. The upcoming rabi season too looks upbeat with rabi sowing progressing at a healthy pace supported by high reservoir levels, plenty of groundwater and timely kharif harvest.
Against this backdrop, CRISIL invites you to its webinar titled 'Hinterland driving recovery hopes' where our experts will provide an outlook on India's economy, the factors propelling it, including the rural - agricultural economy, and growth expectations for rural-focused sectors.
At the webinar, CRISIL's experts will speak on the following topics:
Macroeconomic outlook to fiscal 2021 and the role of rural-agricultural economy
Growth prospects of tractors, two wheelers, agrochemicals, and fertiliser sectors
Profitability trends and credit outlook for these sectors
This will be followed by a panel discussion of industry experts and a Q&A session.
