India’s economy to return to normal faster than expected: Barclays


BENGALURU: Barclays lifted its fiscal 2022 growth forecast for the Indian economy to 8.5% from an earlier projection of 7%, saying the country would “return to normal” faster than expected as the COVID-19 curve in the world’s second-most populous nation starts flattening.

India is nearing 9 million confirmed cases of the novel coronavirus – the second highest in the world, after the United States – but the number of new daily cases has fallen since a peak in mid-September.

Barclays said on Thursday it expects growth in GDP will resume in the third quarter of the current financial year, a quarter earlier than the RBI’s projection.

Last month, a Reuters poll showed the Indian economy would rebound by 9.0% in fiscal 2022, after suffering its deepest contraction on record this fiscal year.

Leave a reply

Please enter your comment!
Please enter your name here