Private consumption in India has picked up marginally in the first two months of 2023, compared to the same period last year, taking into account sales of several consumer product companies.
Chief executive officers (CEOs) say the outlook for the quarters ahead is positive as commodity prices taper off and rural income picks up.
With the central government leading a major capital expenditure drive, CEOs are optimistic that consumer spending will pick up in the months to come.
"There is resurgence in demand, especially in rural areas, as rabi harvesting gets going. It's a bumper wheat crop this year. Farmers expect a good price for their crops since prices are high. The sentiment has been positive since January.
This story is from the March 06, 2023 edition of Business Standard.
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This story is from the March 06, 2023 edition of Business Standard.
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