One year of demonetisation: Consumer goods put through the wringer

The timing of the note ban was a rude shock for the market

Rarely has the consumer market in India witnessed the duress it had to undergo a year ago. With close to 86 per cent of currency notes in circulation turning defunct overnight, activities came to a halt abruptly — a nightmare for an economy that draws strength from consumption-led growth. 

Since then much water has flown under the bridge, but the introduction of a new indirect tax structure continues to jeopardise market dynamics and disrupt business. A green shoot is, however, visible as consumer demand, of late, has improved.

It took nearly four months for the consumer goods sector to regain