GDP Contracts 7.5% In July-September As Economy Rebounds Amid Covid Crisis

India’s gross domestic product (GDP) contracted 7.5 per cent in the July-September period, as the economy rebounded from a record slump of 23.9 per cent in the previous quarter due to a slowdown caused by the coronavirus pandemic. Today’s data confirms the economy’s first technical recession – which is two consecutive quarters of contraction in GDP – since 1996, when the country began quarterly records.