Posted 11/11/2023, 10:32:17 PM
India's Economic Recovery Uneven as Rural Slowdown Persists While Urban Luxury Market Booms
- Economic boom being driven by top 10% wage earners; slowdown in rural India
- Luxury car sales booming but entry-level models declining sharply
- Real estate sees uptick but affordable housing share shrinking
- FMCG feeling rural demand slowdown; urban middle class cautious
- Uneven monsoon leading to regional disparities in rural spending
- Companies now cautiously optimistic about broader recovery in 2024