In contrast, "India's economy remains resilient with a strong job market and robust consumption," he said.
In Japan, consumers are feeling inflationary pressure for the first time in many years. CEO James Quincey said the reopening of China has led to an increase in business, although consumption is still to recover to pre-pandemic levels. Sales of premium products across smartphones, electronics and apparel have remained resilient ever since the pandemic. Demand for daily groceries and essentials rose 3.9% in the March quarter, the highest in two years, largely driven by urban markets as sales in villages improved, according to researcher Kantar.
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