It is a tough phase for Indian economy as most of the industries are seeing a fall and decrease in sale right now. The big corporate giants and business tycoons are expressing their worry towards the future of their companies.
Even the Budget has not helped them much to regain strength. “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Rahul Bajaj, the chairman of Bajaj Group said in a recent statement.
Adi Godrej, chairman of the Godrej group, said that the Budget is not “growth-oriented”
Porinju Veliyath, founder and CEO of Equity Intelligence, said, “India dreams a $5 trillion, graft-free, double-digit, free-market-driven, rule-based and liberal economy by 2025! This is very much doable, but I am afraid parts of the Budget – the direction it points, can take us back to 4% GDP growth rate!”
Quotes Source: BusinessInsider
Not only this, more and more stock market investors are using Twitter to talk about the unfriendly market policies right now.
Many government-controlled sectors are failing, Auto sector is seeing its worst face with people losing jobs. it looks like Indian economy is facing a tough phase right now.
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