"The opening of retail should improve sentiment. The appetite for cars is still strong and I see a lot of new ones on the road from recent entrants like bmw volkswagon fiat nissan. There appears to be enough liquidity to finance all this and car sales are a good indicator of economic activity.

"That is what i see on the ground."

David Fuller's view Thanks for the insights.

In an economic slowdown, I do think that the RBI needs to reverse some of its economic tightening now, rather than wait for clear evidence of success in its battle against inflation, by which time the economy would also be weaker. I mentioned this during some interviews conducted by Thompson Reuters for several Asian TV Channels yesterday.