”They are necessary to cleanse the system and help India grow with a clean slate, although both will cause a slowdown in growth, and consequently consumer spending in the short term. But at the same time, 2019 has been a record year for equity investments. That is a big driver of both growth and consumption, and FMCG consumption will pick up post a lull caused by the lagging effects of reforms,” Sinha told us.
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Full Article: https://inc42.com/features/can-indias-fmcg-2-0-startups-hold-fort-amid-unprecedented-drop-in-consumer-spending/