2 May 2017

Monsoon and consumer confidence

India held its position as the largest recipient of remittances from abroad in 2016, although the overall figure of $62.7bn was 9% lower than the previous year. Following the release of the preliminary monsoon forecast, forecasters have been downplaying the potential impact of El Nino in favour of the more beneficial Indian Ocean Dipole Effect. This is important for consumer confidence. 

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