India's economic recovery likely to be 'U' shaped and not 'V': Analysts

The world over various countries are in different stages of opening up after going through a complete lockdown for 60-90 days.

India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of Covid-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said.

"Before the onset of Covid-19, Indian economy had slowed down to 4.5 per cent GDP growth, not participating in the global resurgence of 2018 and 2019," Centrum Institutional Research said in a report on Monday.

For India, the outbreak of pandemic came at most inopportune time as the economy showed nascent signs of recovery after bold measures, from both the government