India Looks Set to Beat Recession Even as New Virus Cases Loom Vrishti Beniwal, Bloomberg News BC-India-Looks-Set-to-Beat-Recession-Even-as-New-Virus-Cases-Loom , Vrishti Beniwal (Bloomberg) -- As Indiaâs economic fortunes stand at the cusp of a turnaround, a spike in coronavirus cases across its key business centers risks undoing some of the gains. Data due later Friday will probably show gross domestic product expanded 0.6% in the three months ended December, after contracting for two consecutive quarters, according to the median forecast in a Bloomberg survey of economists. That will help Asiaâs third-largest economy exit an unprecedented recession. India will become one of the few major economies to post growth in the last quarter of 2020, with any improvement in the economyâs performance inversely tied to a drop in Covid-19 infections. But the nation has seen an uptick in cases over the last few weeks raising the risk of a new round of localized lockdowns.