The process of “unwinding” the lockdown imposed to contain COVID-19 has already begun, and most sectors of the economy will be open by May 3, Principal Economic Adviser Sanjeev Sanyal told members of the PHD Chamber of Commerce and Industry via a video-conference call.
“Well before the rest of the world is out and about, the Indian economy will be open,” he said. International passenger travel, however, would be locked down for a long time. “I think it will be months, not weeks, as much of the world remains unsafe,” he said.
Interactive map of confirmed coronavirus cases in India | State-wise tracker for coronavirus cases, deaths and testing rates
With regard to an economic stimulus, Mr. Sanyal exhorted industry leaders to view the process as “a marathon, not a sprint.” He warned that the economic downturn was expected to last a long time. “Not weeks, but possibly years, and certainly months,” he said. So the government also expected to dole out support in incremental doses, rather than spend all its resources in one go.
Mr. Sanyal acknowledged that many other countries announced huge stimulus pac