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Growth in the world’s second most-populous nation was already weakening when it recorded its first Covid-19 case on Jan 30, then saw its number of cases shoot above 1,000 cases in March. India’s economy took a big hit after the lockdown on March 25, with first quarter GDP to June 30 shrinking by 24 percent year-on-year, the first contraction since publicly available records began in the mid-1980s. Consumer demand slumped. India still has the world’s second-highest number of cases, over seven million, after the US. One bright spot: India’s health care stocks have climbed about 50 percent so far this year.
(This story appears in the 20 November, 2020 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)