Lockdown fears slow down economic recovery in Pune region: MCCIA

PUNE: Economic recovery in the Pune region stalled in March, as per the latest monthly survey by the Mahratta Chamber of Commerce, Industry, and Agriculture (MCCIA).
The survey of 100-plus companies also shows a reduced level of optimism about the expected timeframe for recovery, compared to February.
While 51% of the surveyed firms in February said their operations were back at pre-pandemic levels, only 48% reported the same in the latest survey. Around 33% of the respondents said they expect the recovery to take three to six months, up from 29% in February. Employment levels also largely remained flat. Around 74% MSMEs said they were back at pre-pandemic levels of output.
MCCIA attributed the stalled recovery to recent Covid-19 surge, mixed messaging, and fears of another lockdown. “Uncertainties in the market always impact business. We request the government not to impose a lockdown,” MCCIa director-general Prashant Girbane said.
“Increased vaccination would boost confidence and, even contact-based services would start contributing to the recovery. Through Pune Platform for Covid Response, we are taking all possible steps to promote Covid-appropriate behaviour and push for 1 lakh vaccinations per day,” MCCI president Sudhir Mehta said.