BBC
Educated and employed but still struggling: India's middle class under strain
India's largest consumer companies are expressing concern over the country's consumers who are slowing down their spending. This slowdown is not a deliberate choice, but rather a result of the inability to spend due to financial constraints. The trend is seen as a reversal of a brief post-GST-cut spending surge that has now begun to fade.
When we speak with the leadership of India's largest consumer companies, there is a particular expression - stunned, a little lost - that keeps appearing. The Indian consumer, they are slowly realising, has stopped spending. Not as a lifestyle choice but because they can't - after a brief, post-Goods and Services Tax (GST)-cut burst of spending that now appears to be fading.
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