Sonal Varma, managing director, chief economist-India and Asia ex-Japan, Nomura, raises concerns of a possible economic slowdown in India in the next 6-12 months as investment and consumption are likely to remain lacklustre amidst global headwinds. “Past episodes of global downturn have disrupted not just India’s export cycle, but also its capex cycle, and the lagged effects of the RBI’s rate hikes have also yet to reflect on domestic growth,” Varma explains in an exclusive interview with Forbes India.