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Moody's bullish on India, China, Indonesia among G-20 countries

Aug 26, 2020 15:28 IST

Moody's Investors Service said India, China and Indonesia will be the only G-20 emerging economies to post a strong enough pick up of real GDP in the second half of 2020. The rating agency has, however, retained its projection of 3.1% growth contraction for India in 2020. For the 2021 year, Moody's has projected the Indian economy to grow 6.9%. The Indian economy grew at the slowest pace in 11 years at 4.2% in 2019-20. Moody's said an economic recovery is underway, but also added that its continuation will be closely tied to containment of the virus. With the exception of China, Moody's expect economic activity in every G-20 economy to fall this year.

Economy