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UNCTAD projects India’s GDP at -5.9% in 2020

Sumit Arora Last updated on September 24th, 2020 03:21 pm Leave a comment

United Nations Conference on Trade and Development (UNCTAD) has predicted that the GDP of India will contract by 5.9% in the year 2020. For the year 2021, UNCTAD projects the Indian economy to grow by 3.9%. The projection was made in its Trade and Development Report 2020.

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The baseline scenario is a sharp recession in 2020 as the stringent lockdown measures, to prevent the spread of the virus have halted, many productive activities across the country.

Important takeaways for all competitive exams:

UNCTAD Headquarters location: Geneva, Switzerland.
UNCTAD Head: Mukhisa Kituyi.
UNCTAD Founded: 30 December 1964.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.