In the Indian context, we have had a growth slowdown due to various reasons, tight liquidity followed by various restrictions by the RBI on credit flow which obviously restricts economic growth, then the elections, heatwave, delayed monsoon, so I think there were a lot of factors at play and lower wage growth relative to inflation has also impacted consumer sentiments. Now, some of these things are likely to moderate in 2025. In the Indian context, we have had a growth slowdown due to various reasons, tight liquidity followed by various restrictions by the RBI on credit flow which obviously restricts economic growth, then the elections, heatwave, delayed monsoon, so I think there were a lot of factors at play and lower wage growth relative to inflation has also impacted consumer sentiments. Now, some of these things are likely to moderate in 2025. Economic Times
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