Slowdown threatens Indian economy

Warning signals: A labourer sorting out onions at a vegetable market in New Delhi. India needs growth of 8% to 8.5% annually to employ the 90 million new non-farm workers that will join the workforce by 2030. — AFP

MUMBAI: India’s booming economy is the envy of other major markets. But beyond the hype and expectation, people who watch the country closely are flagging warning signs.

The nation is heading for a slowdown, analysts who cover it say, as rising inequality squeezes consumer spending among the poor – and the hundreds of millions in the middle class.