Why is consumption preferred over capex in current market conditions? JPMorgan's Rajiv Batra explains

JPMorgan's Rajiv Batra suggests India's focus should be on domestic demand amidst global slowdown. Despite tariff uncertainty, GST rationalization offers a tailwind, though markets are currently hesitant. Batra's strategy favors consumption-oriented sectors like financials, consumer staples, healthcare, power, defence and real estate, while remaining cautious on IT, pharma, and auto.