India’s booming economy is the envy of other major markets. But beyond the hype and expectation, people who watch the country closely are flagging warning signs.
The nation is heading for a slowdown, analysts who cover it say, as rising inequality squeezes consumer spending among the poor — and the hundreds of millions in the middle class. The pessimism comes even after the latest growth figures blew past estimates last week, rounding off an expansion of more than 7% for the fiscal year.
Read More : Indian Economy Faces Slowdown Amidst Continued Spending by Wealthy Individuals