Key Points
Overall consumer demand is also expected to come under pressure from tighter monetary conditions and lesser pull from rural India..
Wherever there has been recovery, it's either been heavily biased towards the more affluent and upper-middle tiers or where it has been mass-based, there has been downtrading," said Abheek Barua, chief economist, HDFC Bank.AgenciesFast-moving consumer goods companies have also been highlighting this trend in their quarterly earnings...
The pent-up demand fuelled by pandemic time savings is beginning to peter out for goods, but may last for some more time for services, say economists...
"Volume growth remains a challenge, and whatever growth is happening now is because of prices - the industry has seen more price-led growth rather than volume growth," said Mayank Shah, senior category head at India's largest biscuits company, Parle Products, which makes Hide & Seek and Milano...
The fall in output of mobiles/telephones does come as a surprise as this means that demand may be getting saturated," said Madan Sabnavis, chief economist, Bank of Baroda...
