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Altamash Zia
Building Strategies ... • 11m
India's corporate profits grow 4X, but salaries remain stagnant: According to a report by FICCI and Quess Corp prepared for the government, India's corporate sector saw minimal income growth over the past four years, despite profits increasing fourfold during the same period. The annual wage growth rate across six key sectors ranged between 0.8% and 5.4% from 2019 to 2023. Meanwhile, retail inflation remained relatively high, rising by 4.8%, 6.2%, 5.5%, 6.7%, and 5.4% in the fiscal years from 2019-20 to 2023-24, indicating that wage growth struggled to keep pace with inflation.
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