Winner takes all: Big fish swallow the small ones amid demand slowdown

There has been a steady rise in market concentration in several sectors across manufacturing

Is the demand slowdown in the economy creating a situation in India Inc where the dominant firms corner most of the gains? The trend in corporate revenues in many sectors suggests a steady consolidation in favour of a few leaders in recent years.
 
The skew in favour of large firms is even starker if one looks at the distribution of profits and market capitalisation in many sectors.
 
Revenue trends for BS1000 companies suggest that consolidation continued despite a sharp recovery in top line growth in FY18 and FY19, driven by higher energy and commodity prices. The combined revenues