London (CNN Business) After plunging into recession for the first time in nearly a quarter of a century, India's economy should come roaring back to life in 2021. If that level of growth is realized, it would allow India to reclaim its status as the fastest growing major economy — stealing the title back from China, which the OECD expects will deliver growth of 7.8% this calendar year after dodging a recession in 2020. India's economy recorded a rise in gross domestic product of 0.4% in the final three months of 2020 , ending its recession. For 2020 as a whole, the Indian economy contracted by about 7%. The Paris-based agency also said there were signs that recent containment measures weren't hurting the economy as much as earlier efforts.

Source: CNN March 09, 2021 10:19 UTC