WORLD India enters recession as GDP contracts 7.5% in July-September

WORLD

India enters recession as GDP contracts 7.5% in July-September

CGTN

21:11, November 27, 2020

Commuters wearing facemasks as a preventive measure against the Covid-19 coronavirus, walk past an Indian national flag in New Delhi on September 16, 2020. (Photo: AFP)

India's economy contracted by 7.5 percent in the July-September quarter, showing some recovery a quarter after the country recorded the worst performance since it started reporting quarterly data in 1996, local media reported, citing official data.

The development comes after the Reserve Bank of India (RBI) had earlier estimated that the economy will contract by 9.5% for the full fiscal year.

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