India's GDP Expanded 0.4% in Quarter Through December

NEW DELHI -- India's economy, one of the hardest hit by the Covid-19 pandemic, started growing again last quarter, but the recovery is being driven by those with the highest incomes, while the poor are still struggling.

The South Asian nation said Friday that its gross domestic product grew by 0.4% in the three months through Dec. 31 after shrinking by more than 15% over the previous two quarters.

The rebound was driven by India's biggest companies and richest consumers. They emerged from the worst of the Covid-19 crisis last year with more savings and lower costs and are now lifting growth as the spread of the pandemic slows.

For the full fiscal year through March 31, India projects that GDP will shrink 8%.

Write to Eric Bellman at eric.bellman@wsj.com


  (END) Dow Jones Newswires
  02-26-21 0729ET
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