V-shaped recovery unlikely in India as Covid cases rise: StanChart chief

Global banking major Standard Chartered's Group Chief Executive Bill Winters on Wednesday said he was not sure whether India will see a V-shaped economic recovery as the number of Covid-19 infections are continuing to rise.

He said India is "some place in between", wherein it is not showing the V-shaped recovery like China.

India's economy contracted by nearly a fourth in the June quarter as a result of the lockdowns during the early days of the pandemic. Policymakers had exuded confidence about a V-shaped recovery.

"I don't know (whether) we will see a V-shaped recovery given the fact that the infections are still