India : Narrow demand response weighs on GST – Societe Generale
Kunal Kundu of Societe Generale argues that India’s Goods and Services Tax (GST) data and Index of Industrial Production (IIP) figures point to a soft consumption backbone.
The soft consumption data indicated by the GST and IIP figures is likely to lead to a bearish sentiment in the Indian rupee as market participants may anticipate a slowdown in economic activity. This could result in downward pressure on the currency.
Kunal Kundu of Societe Generale argues that India’s Goods and Services Tax (GST) data and Index of Industrial Production (IIP) figures point to a soft consumption backbone.
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