Indicator after indicator has brought India bad news for its economy. Auto sales, one of the strongest indicators for economic health, are down by approximately 25 per cent. Tractor sales, another top indicator in an agrarian economy like India’s, have fallen 14 per cent. Another critical statistic, unemployment data, shows job creation at a four-decade low.
But it’s not that dark everywhere. Indians are watching films and purchasing food items and beverages (F&B) at movie halls, purchasing streaming subscriptions for movies and music, and buying milk and milk products in abundance. They are also switching their smartphones for newer models at a healthy clip.
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Dairy major Amul has registered a growth of 26 per cent in the last six months, with the curd segment up 40 per cent. Netflix, far from the most popular streaming portal in India, reportedly grew 700 per cent in 2018-19. Footfall at cinema halls run by PVR, one of India’s leading multiplex chains, is up 25 per cent since the last financial year, according to insiders, and F&B revenue by 38 per cent.
Source: The Print
