There are three main factors that have affected the Indian economy in the last one year: declining growth in private consumption, lower private investments and soft export markets. On the political front, there is a belief that there is tremendous stability due to the clear majority the current government enjoys in parliament. The ruling party’s vision of a $5 trillion dollar economy by 2024 sets the tone for hope and recovery. As policy makers work towards increasing lending and spurring growth, economists bet on increasing urbanization, the rising middle class and consumer spending for a higher GDP.
Automobiles, cement and transport sectors indicate a continuing slowdown for the Indian economy. As per IMF even global growth will remain muted.
Tense US-China trade relations grouped with prolonged uncertainty on Brexit and civil unrest in Hong Kong paint a picture of subdued demand and muted global activity
The sector is rife with obstacles due to the NBFC and NPA crises, slow economic growth and a liquidity crunch. However there are reasons to be hopeful.
60% of India’s GDP is driven by private consumption. By 2030, a large section of our consuming class will be in the upper middle class, making India the most exciting market in the world.
This custom report has been commissioned by The Economic Times India Leadership Council and has been put together by Nielsen through the collation and comprehension of publicly available information.