Over the last three years, the drivers of domestic demand have been urban consumption and premiumisation. This is changing. From here on, domestic demand – will be driven by a recovery in rural demand and a pickup in mass consumption. A good monsoon and a bumper kharif harvest are expected to improve farm incomes. Furthermore, higher social spending by state governments is also helping the rural economy recover cyclically for the first time after COVID-19.
India may cut tariffs on 30 items imported from US to prevent higher reciprocal tariffs: Nomura
India is considering reducing tariffs on more than 30 items and increasing purchases of US defence and energy products to avoid higher reciprocal tariffs from
February 11, 2025