MUMBAI : A longer wait for a vaccine against COVID-19 virus may lead to a contraction of up to 7.5% in the Indian GDP in FY21, a foreign brokerage said on Monday.Economists at Bank of America Securities also revised down their base case estimates on the real GDP within a week, and now expect it to contract by 4% because of a drop in economic activity.It can be noted that multiple efforts to find a vaccine against the dreaded virus are on both globally as well domestically, but no timelines have been announced yet.Many analysts are expecting the Indian economy to contract by 5% in FY21 as a result of the nationwide lockdowns, with some also estimating a contraction of up to 7.2% in the GDP."India's real GDP will likely contract by 7.5% if.