Home / Economy / News / HSBC sees coronavirus surge slowing India's economic growth this year

HSBC sees coronavirus surge slowing India's economic growth this year

Economic cost will be there, but hopefully it will just be about a third or lower than the economic cost of previous waves, HSBC economist Pranjul Bhandari said

Premium

India is due to release its first official estimate for annual GDP later Friday, which a Bloomberg survey of economists is forecast to show an expansion of 9.3%. Photo: Bloomberg

Vrishti Beniwal | Bloomberg

2 min read Last Updated : Jan 07 2022 | 12:13 PM IST

New restrictions in India due to rising Covid-19 cases could lower the nation’s economic growth by about a quarter of a percentage point in the current fiscal year, according to HSBC Holdings Plc.

“Economic cost will be there, but hopefully it will just be about a third or lower than the economic cost of previous waves,” HSBC economist Pranjul Bhandari said Friday in an interview with Haslinda Amin and Rishaad Salamat on Bloomberg TV. “For the full year ending March 2022, GDP growth could be 25 basis points lower than we had earlier estimated.”

India is due to release its first

Topics : Coronavirus HSBC Indian Economy economic growth Economic recovery

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in