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

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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