Obviously, with the larger corporations in a bit of a spot, ancillaries and vendors are feeling the pinch; others too are finding the going tough. Over the past five years financial leverage helped earnings; it will now work the other way, says Shobhana Subramanian.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
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