Section 5 highlights the imperatives to be taken care of, by the industry as also the regulators, for NBFCs to become real changers while the way forward and concluding thoughts are given in Section 6.
According to these analyses, the extent to which this trade friction directly impacts the economy through trade activity is likely to be limited, but the effects of this issue would be larger when involving such  4  channels as the deterioration in business sentiment and the destabilization of global financial markets.