It said it had not been affected in the first quarter by the global shortage of semiconductor chips, although it was seeing tighter supplies like many other technical firms.
"With the slow vaccine rollout set to gather pace over the coming months, activity should start to recover again before long, lowering the need for additional stimulus," he added in a note.
Nearly 9,000 new infections in the past 24 hours took the country's caseload to 1,006,428 -- the second-highest in Southeast Asia -- with 16,853 fatalities, government figures show.
For the fifth straight day, India has set a new global record for a rise in daily coronavirus cases, in addition to cumulative deaths jumping to an all-time high figure over the past 24 hours.
With 352,991 additional cases in the past 24 hours, India's total infections have surpassed 17 million, behind only the United States.
There are growing concerns that strains of the virus being tested in India are potentially more contagious.
According to the State Department, the United States under the Biden Administration "first and foremost" wants to vaccinate the American people, facing accusations of vaccine hoarding by the broader international community.
The Biden Administration has come under fire for its alleged hoarding of essential vaccines for domestic use, without sharing even a portion of its supplies with the international community.
Foreign Secretary appreciated China’s initiative to set-up this forum and said today’s conference was taking place at a time when the region was battling against the pandemic.
In a late surge, India has reported more than 300,000 coronavirus cases in the past 24 hours, the highest global daily total.
The country now has a total of 15.93 million cases, the second-highest tally in the world, while deaths jumped by 2104 to reach a tally of 184,657, according to data from the Indian Health Ministry.