Greenshoots Seen in rural demand recovery, says Cavinkare CMD

Higher borrowings through informal or unrecognized sources in rural areas of India have impacted the ability to spend. Many are now repaying the debt taken during the pandemic leading to a possible spending slowdown, says C K Ranganathan, Chairman and Managing Director, CavinKare Pvt Ltd. He also quoted that with some improvement in March numbers over February, there is a hope that these numbers will sustain on the back of improved monsoons, and the return of migrant laborers to cities, thereby improving rural remittances.