A global recession and its likely fallout on India's economic growth

While foreign fund inflows could ebb and exports could take a beating, the Indian economy is unlikely to suffer recession again

While chief economic advisor V Anantha Nageswaran does not foresee a recession in India this financial year, the global economy could indeed be caught in its throes or suffer a significant slowing down, depending on how long the Russia-Ukraine war lasts. If that happens, India cannot avoid the repercussions, though it might not enter into a recession again.

India's economic growth, at 8.7 per cent in 2021-22, was largely due to the low base caused by a 6.6 per cent contraction in GDP the previous year. But if the pre-Covid period of 2019-20 is taken as the base, the economy