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Wed 21 Aug 2019 10:36 AM

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Video: What can India do to beat an economic slowdown?

After years of fast-paced growth, India's economy is losing steam. In this country of more than a billion people, domestic consumption is one of the main drivers of growth but unemployment is rising and people's purchasing power has taken a hit.

While the government maintains that the economic slowdown is temporary and a revival is not too far ahead, for now the impact of the slowdown is being felt across industries. Car sales are declining, private investment is slowing down and the shadow banking sector is in a crisis.

India’s central bank has cut interest rates to boost the slowing economy, but is this enough? And with ambitions to become one of the world’s most powerful economies, which sectors can help drive India’s growth in the next 10 years?

(Source: BBC News YouTube channel)