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Moody's projects India GDP to shrink 3.1% in 2020, flags geopolitical risk

However, Moody's expects the Indian economy to register 6.9 per cent growth in 2021

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In its June update to Global Macro Outlook (2020-21), Moody's said it has revised down its 2020 growth forecast for India

Press Trust of India

2 min read Last Updated : Jun 23 2020 | 12:48 AM IST

Moody's Investors Service on Monday projected the Indian economy to shrink 3.1 per cent in 2020 and said clashes with China on the border also suggest rising geopolitical risks in the Asian region where countries are particularly vulnerable to changes in geopolitical dynamics.

While it pegged India's annual growth at 0.2 per cent in April, the forecast has been sharply revised after taking into consideration the disruptions due to the coronavirus pandemic.

However, Moody's expects the economy to register 6.9 per cent growth in 2021.In its June update to Global Macro Outlook (2020-21), Moody's said it has revised down its

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