India GDP slumps 7.5%, among worst-performing major economies

The show must go on as elite runners take part in the Airtel Delhi Half Marathon in New Delhi, India, on Sunday (Nov 29, 2020). - Reuters

MUMBAI, Nov 29 (AFP): India's economy contracted 7.5 percent between July and September, putting it among the worst-performing major advanced and emerging economies as it entered a technical recession for the first time since independence, official data has showed.

Although the figures were an improvement on the record 23.9-percent contraction recorded last quarter, they indicate that Asia's third-largest economy is in for a tough fight as it attempts to revive demand and create jobs even as coronavirus infections climb.