The lives of 1.3 billion consumers in India were disrupted on Nov 8th, 2016 when the Government of India demonetized 86% of cash in an economy which is close to 90% reliant on cash.
The consequence was initially the stalling and then the rationing of the purchase of goods and services in retail, wholesale, urban and rural markets across India. Supply chain transactions, real estate deals, weddings and informal production and assembly lines in industries like glass bangles, wedding glitter, shoes, traditional sweetmeats, fruit and vegetable harvesting and supply were devastated as there was no alternate medium of exchange to replace the self- control, speed and exactness of cash.
With 86% of cash out of use in one fell swoop, how did and how will 1.3 billion consumers cope? With 2,300 crore currency notes withdrawn from circulation, how long would it take to “remonetize” the economy with only cash?
India Remonetized takes the viewer through the immediate months after demonetization was announced. It explores the upheavals that every sector experienced in the process with insights into their strategies to overcome it all. The viewer is given an understanding of the transitional phase that the Indian economy is facing along with an idea of the changes that the future has in store for the consumer.
Series Title: India Remonetized
Channel: National Geographic Channel
Format: HD CAM
Aspect Ratio: 16:9
Duration: 1 x 45 minutes