Consumption and other myths

A 14% increase in HUL’s sales in the last quarter along with a 16% hike in its profits—15% and 20%, respectively, in the case of ITC—and most analysts are talking of how India’s consumption story (led by Bharat, no doubt!) remains intact. A variant of this is the one on investments—a BP investing $7.2 billion in Reliance or the NHAI giving out R10,000 crore of new projects is seen as evidence of the resilience in the investment story.

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