India’s descent into stepwells of growth9 min read . Updated: 28 Aug 2020, 08:59 AM IST
- Poor handling of the pandemic threatens to derail our competitive advantage in the global economy
- India’s economy is well-positioned in IT and outsourcing; health and pharma; and higher education and research, which are sectors expected to be leading drivers of global growth
NEW YORK : India’s economy is in a downward spiral. The Economist Intelligence Unit just lowered the forecast for India’s growth in the coming year from -5.8% to -8.5%. This is not out of line with what other forecasters are predicting. India’s own credit rating agency, Icra, predicts a growth of -9.5%. For the first quarter of 2020-21, the State Bank of India is predicting a growth of -16.5%.
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