Specialist in Indian Banking and Economic Research

Hemindra Hazari

Is a Securities & Exchange Board of India (SEBI) registered research analyst with over 25 years experience in the Indian capital markets with a specialization in banking and economy research and has managerial experience of establishing profitable equities business, leading and mentoring analysts.  He has worked with prominent foreign and domestic capital market firms such as UBS, Societe Generale, HSBC, ASK Raymond James  and Karvy Stock  Broking and is a regular guest on business media channels and is respected for his non-consensus view on stocks and the market.

Budget 2018-2019: Charting a Course to Stagnation

India: Why the 3Q GDP Numbers May Disappoint the Market?

Thematic (Sector/Industry)

<p>Even prior to the disastrous demonetisation, sales growth, the barometer of health for the private corporate non-financial sector in India was depicting worrying signs of terminal illness. The fabled argument of India’s demographic dividend and the country being the fastest growing economy in the world is a mirage for corporate India. More alarmingly is the plight of the labour-intensive small companies which are being decimated bearing the full brunt of the global and domestic demand slowdown. Though minuscule in overall corporate sales, this segment is important in terms of number and labour intensity as well as is a reflection of the state of the micro and small enterprises in India. Demonetisation may well be the final coup de grace on this already mortally wounded labour-intensive segment of the Indian economy.</p>

Even prior to the disastrous demonetisation, sales growth, the barometer of health for the private corporate non-financial sector in India was depicting worrying signs of terminal illness. The fabled argument of India’s demographic dividend and the country being the fastest growing economy in the world is a mirage for corporate India. More alarmingly is the plight of the labour-intensive small companies which are being decimated bearing the full brunt of the global and domestic demand slowdown. Though minuscule in overall corporate sales, this segment is important in terms of number and labour intensity as well as is a reflection of the state of the micro and small enterprises in India. Demonetisation may well be the final coup de grace on this already mortally wounded labour-intensive segment of the Indian economy.

The Decimation of Small Companies in India