After a steady rise since May, Indian exports have plunged in August to US $22.70 billion, which was US $23.6 billion in July 2020 and US $25.9 billion in August 2019. Experts anticipated the Indian economy to gain momentum as the country is now relaxing its nationwide lockdown in phases.
However, a constant rise in the coronavirus cases has led to several regional lockdowns, disrupting productivity and multiple supply chains in the country. According to reports, India added 461,587 COVID-19 cases last week alone.