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Covid-19 impact: Worst over, but auto, retail, real estate still ailing

These sectors account for nearly a fourth of India's GDP

The deal is structured in such a way that Apollo will come in as senior lender in certain developer loans Piramal will give
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Sale of residential units plunged by 49 per cent to below 58,000 units till June

Arnab DuttaShally Seth Mohile New Delhi/Mumbai
The pandemic and the lockdown have shattered and left three key sectors of the economy — real estate, automobile and retail — facing challenges of a kind not seen in decades. These sectors account for nearly a fourth of India’s GDP. Retail trade, second only to agriculture in terms of contribution to GDP (about 10 per cent), saw business shrink to less than 25 per cent of normal levels.

While business in the otherwise fast-growing modern trade remains below 20 per cent, standalone outlets continue to suffer a 61 per cent loss, according to a report by the Retailers Association

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First Published: Sep 23 2020 | 12:09 AM IST

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