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India economy seen growing at world's quickest rate despite Covid outbreak

The economy is on track to grow 10% in the year that began April 1, according to the median of 12 estimates compiled by Bloomberg News

Even as virus cases have started receding and some parts of the country may reopen by June, consumers are unlikely to spend freely, given the economic uncertainties and with unemployment at its highest level in a year. (Photo: Bloomberg)
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Even as virus cases have started receding and some parts of the country may reopen by June, consumers are unlikely to spend freely, given the economic uncertainties and with unemployment at its highest level in a year. (Photo: Bloomberg)

Vrishti Beniwal | Bloomberg
The Indian economy’s resilience will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one’s yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year.
 
The economy is on track to grow 10% in the year that began April 1, according to the median of 12 estimates compiled by Bloomberg News. That’s after several economists downgraded their forecasts in recent weeks to factor in local curbs on activity, including in India’s political and commercial hubs.

But the downgrades are a message to not take