Traditionally, India’s Mcap-to-GDP (Buffet indicator) has seen sharp correction as soon as marketcap nears GDP or exceeds it. From the bottom of 42% in previous 20 years in FY04, it hit a peak of 103% in FY08. However crashed quickly after to 55% in FY09. Since then, it has seen corrections in FY11, FY16 and likewise in FY19. With marketcap at 104% of GDP now, what’s in retailer subsequent?

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