Moreover, the country is enjoying the effects of lower energy prices as India, the fourth largest consumer of oil, is a heavy importer. Even with the government reducing its oil subsidies, every dollar drop in oil translated to $1 billion saved in subsidy payments.
“Ultimately, consumers will stand to benefit the most in this environment. You have already seen how much petrol and diesel prices have come down. Basically, they have dropped by 15 per cent from peaks and there could be a scope for another 5-6 per cent, even if crude prices sustain at current levels,” Sanjeev Prasad, senior executive director & co-head at Kotak Institutional Equities, said in a Economic Times article.
EGShares India Consumer ETF
For more information on India, visit our India category.
Max Chen contributed to this article.