After India's GDP collapsed by 23.9 percent in the June quarter and by 7.5 percent in the September quarter, national accounts are back where they were a year ago. In the December quarter, GDP at constant prices was $490 billion, up 0.4 percent from the same quarter in the 2019/20 fiscal year. The recovery from the coronavirus pandemic comes at a time when India's case numbers are in decline.
India's economic crash had been one of the worst among major economies, with the U.S. economy for example contracting 9.5 percent and 2.9 percent on a comparable basis in the June and September quarters. India had gone into a coronavirus-related lockdown at the end of March - later than many other Asian and European nations - so the effects of the stay-at-home order became fully visible in the quarter ending in June.
While most other major world economy marked a third quarter of recession between October and December, India returned to growth in year-over-year terms. China only spend one quarter (January to March 2020) in recession due to the coronavirus pandemic.
