It sees its own forecast of 6.0% GDP growth in FY20 at risk. And what about the shadow banking crisis, with bad news like the Indiabulls/Lakshmi Vilas merger looking iffier by the day? Flipkart and Amazon sold Rs 19,000 crore of merchandise in six days; Xiaomi sold 525 devices every minute during the sale frenzy. But lending to businesses is still in a trough – foreign borrowings shot up to $4.98 billion in August alone. At least six million of those new jobs were in rural India.

Source: Economic Times October 09, 2019 17:48 UTC