Between the months of April and June, the START of the Asian giant has shown a historic drop of nearly 24%, due to the containment against the coronavirus. The forecasts are looking very bleak for the coming months.
A “Tumble”, a “Shipwreck”, a “crash”. The words used by the Indian press to comment on the magnitude of the crisis which is currently hitting the second most populous country in the world (1.35 billion inhabitants) express all the dismay of an economy that was already suffering, before does the Covid-19 epidemic occur. On Monday, August 31, the National Statistics Office, counterpart of INSEE, announced that India’s gross domestic product (GDP) had fallen by 23.9% in the second quarter of 2020.
“This is the worst performance recorded since growth data has been published every three months, that is to say since 1996, and probably the first recession since 1980”, underline the Business Standard. Until a second consecutive quarter confirms the entry of the subcontinent into recession (in the first quarter of 2020, GDP growth was still positive but at a very low level of 3.1%, while it exceeded 8% at the beginning of 2018), the hour is serious. Of all the emerging countries, India is the one that has “The most suffered from confinement”, established here on March 25 and which still lasts today in