India’s economy is on the path to gradual recovery, the International Monetary Fund (IMF) recently said. “India’s economy is on the path of gradual recovery, real GDP [gross domestic product] growth, return to positive territory in the fourth quarter of 2020. And that’s for the first time actually since the start of the pandemic and it’s supported by a pickup in gross, fixed capital formation,” IMF spokesperson Gerry Rice told reporters.
The statement comes ahead of IMF’s next month’s spring meeting with the World Bank.
“Beyond that, I can say that high-frequency indicators including PMIs trade and mobility suggest a continued recovery in the first quarter of this year, ’21; however, the recent emergence of the variants and localised lockdowns could pose risks to a sustained recovery,” Rice said.
The IMF is scheduled to release its World Economic Outlook on April 6.