Going by Q2 GDP numbers, India put up a better fight than some G20 economies

The GDP data have also shown that India is recovering better than other countries.

Moneycontrol News

November 28, 2020 / 03:24 PM IST

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India's GDP numbers that came on Friday showing a contraction of 7.5 percent in the September quarter have indicated that the country has shown a sign of recovery amid the ongoing COVID-19 pandemic.

The gross domestic product (GDP) had contracted by a record 23.9 percent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.

However, the economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent. As per the available data, manufacturing industry numbers have grown by 0.6 percent in Q2 as compared to a contraction of (-) 39.3 percent in Q1.

The GDP data has also shown that India is recovering better than other countries. Here is the data of GDP growth in prominent G20 economies, which show that India’s position is better:

Table: GDP Growth (%) Across Prominent G20 Economies

Country	Q1 of 2020-21	Q2 of 2020-21
Japan	-10.3	-5.9
Spain	-21.5	-8.7
United Kingdom	-21.5	-9.6
United States	-9.0	-2.9
China	3.2	4.9
India	-23.9	(-) 7.5
Indonesia	-5.4	-3.6
Mexico	-18.7	-8.7

A major reason behind the improved GDP data of India is the decisions taken by the central government during the initial phase of the coronavirus infection in the country, as it was among the quickest to react to the contagion at the government and institutional level.

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