India’s Economic Growth to Shrink by 10.5% , Predicts Fitch Ratings

Fitch Ratings on September 8 has predicted the Indian economic growth to shrink by 10.5% for the financial year 2021. Reportedly, the decline was attributed to the pandemic and irregular shutdowns. Fitch noted that the economy should recover in the July-September period after the re-opening of the economy. The company stated, “we do not expect GDP to return to pre-virus levels until January-March of 2022.”