Moody’s: India’s GDP to Contract 3.1% in 2020

In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid adverse real economy and bank weakness.

In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid adverse real economy and bank weakness.
Key findings
“India’s gross domestic product (GDP) will contract 3.1% in 2020 and grow 6.9% in 2021 in line with its June forecasts.
Retained its global forecast of 4.6% GDP contraction for 2020.
The rating agency said in its baseline projections that China, India and Indonesia will be the only G-20 emerging economies to post a strong enough pickup of real GDP in the second half of 2020 and full-year 2021 to end next year above pre-coronavirus levels.