Indian economy contracts 7.5 pc in Q2

The Indian economy contracted by 7.5 per cent in the July-September quarter of this fiscal amid the COVID-19 crisis, official data showed on Friday.

The gross domestic product (GDP) had expanded by 4.4 per cent in the corresponding July-September period of 2019-20, according to data released by the National Statistical Office (NSO).

The economy had shrunk by an unprecedented 23.9 per cent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns.

China’s economy grew by 4.9 per cent in July-September this year, faster than the 3.2 per cent growth in April-June 2020.