During demonetization and the pandemic period, formal sector corporate sales has overshot nominal GDP growth

Taken from research note "India: Informally, yours, The prospects of the omnipresent unorganised sector" by Pranjul Bhandari and Aayushi Chaudhary

Source: Source: Bloomberg, HSBC. The sales growth is based on current FTSE India constituents. We use 16 consumer companies of the following sub-sectors: general retailers, food producers, personal goods and tobacco. Get the data