The GDP data for Q2 this year is a reflection of the vagaries of monsoons, as well as slower than expected consumption growth in urban areas. The impact was felt across industries, such as retail, mining to automobiles, they said.
"Urban demand is low but rural demand is getting better," said the chairman of a large company, asking not to be quoted.
"With a pickup expected in capital expenditure by the government, growth in demand during the festival season, and stable rural demand, we are likely to see better numbers for the coming quarters and FY25," said Vineet Agarwal, Managing Director, Transport Corporation of India, a logistics and supply chain management major.
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