India is expected to grow up at 7.2 percent in 2021 but economic growth could decelerate next year, according to a United Nations report which said the recovery in the country is constrained by the ongoing human and economic cost of the coronoavirous pandemic and the negative impact of food price inflation on private consumption.
The United Nations Conference on trade and development 2021, released here on Wednesday, sounded a cautiously optimistic note to say that the global economy is set for a strong recovery in 2021, even though with a good deal of uncertainty clouding the details at the regional and country levels over the second half of the year.
After a 3.5 percent fall in 2020, the United Nations Conference on Trade and Development (UNCTAD) expects world output to grow 5.3 percent this year, partially recovering the ground lost in 2020. The report said that India “suffered a contraction” of 7 percent in 2020 and is expected to grow 7.2 percent in 2021. “The recovery in India is constrained by the ongoing human and economic cost of COVID-19, and the negative impact of food price inflation on private consumption,” the UNCTAD report said.