Barclays downgrades India's GDP growth forecast for 2021-22 to 10%

by Nidhi Bhati

Barclays Securities has revised India’s real GDP growth forecast downwards to 10 per cent from 11 per cent, citing the recent upsurge in coronavirus cases. Barclays researchers Rahul Bajoria and Shreya Sodhani believe that the economic impact of the second Covid-19 pandemic could be much higher. If the ongoing localised lockdowns continue till June 2021, it will lead to economic losses of USD 38.4 billion, they stated. Further, if mobility restrictions remain in place until the end of August 2021, annual real GDP growth may fall to 8.8 per cent, Barclays warned.