India’s GDP growth may lose momentum after initial recovery: Fitch India’s GDP growth may lose momentum after initial recovery: Fitch Fitch Ratings has predicted that the economy will suffer lasting consequences from the coronavirus crisis and that growth will slow to around 6.5 per cent a year over FY23-FY26. advertisement UPDATED: January 14, 2021 15:02 IST The ratings agency said that the recession due to the coronavirus crisis in India has been one of the most severe in the world due to the stringent nationwide lockdown and lack of direct fiscal support. (Photo: Reuters/Representational image) The Indian economy is expected to sharply rebound in FY22 after the coronavirus pandemic battered the economy for most parts of FY21. The country’s growth in 2021-22 is expected to rebound to 11 per cent in comparison to an expected full-year contraction of 7.7 per cent. But even after the sharp rebound in the next fiscal year, the country’s economy may not be out of the woods, according to Fitch Ratings.