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19 Mar 2021

India's GDP may rise at 12% in 2021: Moody's Analytics

 


According to Moody's analytics, India's gross domestic product (GDP) is expected to grow by 12% in 2021. In an earlier estimate in last November, analysis stated that India's GDP will rise at 9% in the calendar year.


“India's near-term prospects have improved following a better than expected December quarter, when GDP increased by 0.4 percent year on year after contracting by 7.5 percent in the previous quarter. "Since the easing of restrictions, domestic and external demand has increased, resulting in improved manufacturing performance in recent months," Moody's Analytics said in an update to its India report.


The Indian economy is officially expected to contract by 8% in FY21 and this will be the worst performance in more than four decades, due to the corona virus pandemic. 

However, most experienced forecasters expect India to rise by double digits in FY22, which they see as more of a statistical turnaround than a V-shaped recovery.

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