The slowdown is not due to global factors, neither cyclical nor structural. It is driven by the cleanup.
Quite a number of sectors (eg. steel) are seeing a revival as we speak
Others are still deeply in the accumulated mess of yesteryears ( eg. real estate)
Like the cleanup of non-financial disasters which have been cleaned-up ( Article 370, Triple Talaq, Armed forces with 40 year old weapon systems, Choked highways, crumbled infrastructure) , there will be sector-by-sector more pain in some, and pickup and genuine healthy scam-free revival in other sectors.
The current slowdown, unlike the doomsday predictors, who are trying to create the fear psychosis that the economy will collapse. The one transformational change is that Indian policymakers has taken the path of not throwing good money after bad.
Read Uday Kotaks interview, worth the time.