You are here


India faces dampened demand, stagnant lending, slowing growth

Growth dependent on consumption as govt has no room for a stimulus

Workers cleaning hides at a tannery in India; manufacturing jobs are forecast to fall about 30 per cent this year, and broader surveys show that the hiring outlook is near a 12-year low.


CONSUMPTION was India's big story. Its 1.3 billion population was expected to guzzle everything from iron to iPhones, driving global growth and cheering investors such as Apple Inc and Goldman Sachs Group Inc.

For a while, everything seemed smooth. Indians were the world's...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to