India’s GDP Shrinks as Covid-19 Keeps Stranglehold on Economy – The Wall Street Journal

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NEW DELHI—The coronavirus pandemic has strangled one of the most powerful engines of economic growth in the world: spending by India’s 1.3 billion consumers.

The country’s gross domestic product shrank 7.5% last quarter compared with a year earlier, India said Friday, as Covid-19 has transformed the world’s fastest-growing economy into one that is now among those contracting the fastest.

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