India’s contracting economy rebooting from coronavirus blow

Millions of distressed Indian manufacturers and traders are counting on the eagerly-awaited October-December festive season to rescue them from their coronavirus catastrophe.

But spending may be the last thing on the minds of many Indians who have lost their jobs or businesses in the pandemic downturn, and pressure is building for Prime Minister Narendra Modi to do more to regain the momentum of growth that, at 8.2% in 2016-17, made India one of the fastest growing major economies.