Indian Economy Faces Slowdown Amidst Continued Spending by Wealthy Individuals

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.

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