Posted 12/20/2023, 3:57:37 AM
Indian Economy Shows Mixed Recovery as GDP Growth Surges but Consumption Lags
- India's GDP grew 7.6% in Q2 2023, pushed by strong manufacturing growth of 14%, beating expectations
- Stock markets surged due to GDP growth and BJP electoral victories, attracting foreign and domestic investors
- However, average Indian consumption continues to struggle with unemployment and stagnant incomes
- Industrial recovery has been K-shaped - some sectors like infrastructure booming, others like textiles struggling
- Company profits soared despite flat sales due to falling input costs; leading to higher investments in some sectors