It is no surprise that the pandemic of Covid-19 impacted every economy in the world regardless of its size. India being one of the largest global economies shattered terribly more than any other large economies and rightfully so, the country implemented the lockdown restrictions later in March 2020, way late than all other European and Asian countries.
India’s GDP collapsed by an incredible 23.9 percent back in June and 7.5 percent in September. However, by now, despite the massive destruction, the Indian GDP stands at the position where it was in 2019. According to the infographic below, in December, India’s GDP was recorded at constant prices to be $490 billion which is surprisingly 0.4 percent more than that in the same quarter previous year i.e. 2019.
The United States, on the other hand, another largest economy was down by 9.5 percent in June and only 2.9 percent in September. Several other big economies marked their recession in the last quarter of 2020 after spending three quarters in recession. India took a little longer to recover. Whereas, the Chinese economy only took one quarter i.e., January to March 2020 to regrow.
India’s GDP collapsed by an incredible 23.9 percent back in June and 7.5 percent in September. However, by now, despite the massive destruction, the Indian GDP stands at the position where it was in 2019. According to the infographic below, in December, India’s GDP was recorded at constant prices to be $490 billion which is surprisingly 0.4 percent more than that in the same quarter previous year i.e. 2019.
The United States, on the other hand, another largest economy was down by 9.5 percent in June and only 2.9 percent in September. Several other big economies marked their recession in the last quarter of 2020 after spending three quarters in recession. India took a little longer to recover. Whereas, the Chinese economy only took one quarter i.e., January to March 2020 to regrow.
Infographic by: Statista.com
