India’s 7.8% GDP growth sparks optimism, but sustainability faces key tests
Looking ahead, Sengupta flagged urban consumption and exports as critical areas needing policy attention. The government’s recent income tax cuts and expected GST reductions on durables by mid-September or October could provide a demand boost. On the external front, India’s labour-intensive export sectors—such as textiles, leather, footwear, garments, and gems & jewellery—face significant pressure from…