Will India GDP also sink deep like US GDP?

Subhash
July 31, 2020

Will India GDP also sink deep like US GDP? US GDP sank 32% in a single quarter. These are levels not seen since GDP was calculated as an economic metric. Germany on the other hand fell by just 10%. So which track will India follow? Let us look at GDP estimates

ICRA estimates Indian GDP to contract by 25% in Q1

CRISIL estimates Indian GDP to contract by 25% in Q1

Bank of America estimates India GDP to contract by 18% in Q1

Citibank estimates India GDP to contract by 21% in Q1

FICCI estimates India GDP to contract by 14.2% in Q1

So it looks like thanks to two rounds of Unlock, India will end somewhere between Germany and US GDP growth numbers. India’s rural economy with some help from the service sector and gradual recovery of manufacturing in June may still provide some level of comfort.

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