INSUBCONTINENT EXCLUSIVE:
Indian shoppers are back in force online and in stores, splurging this festive season after the coronavirus pandemic damped celebrations
and consumption in previous years.
Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago
22-30, consulting firm RedSeer estimated
The return of shoppers will serve as a boost to consumption, the backbone of the economy.
Here are four charts that help explain the
from the Federation of Automobile Dealers Associations show
Sales of two-wheelers in India, an indication of rural demand, grew 3.7% from 2019 levels
Cars and sports utility vehicles sales soared 92% in September from a year earlier, according to Society of Indian Automobile
saw demand for its cars rise 20% year-on-year, led by its premium offering
interest rates doing little to suppress demand.
As demand for goods rose, businesses ramped up capacity
Total flow of financial resources from banks and non-banks to the commercial sector jumped nearly five-fold to 9.3 trillion rupees between
the April-September period, from 1.7 trillion rupees a year ago, according to the Reserve Bank of India
pandemic restrictions accelerated economic activity in agriculture, the services sector, and in small- and medium-enterprises
That was accompanied by a drop in the jobless rate to the lowest in more than four years in September.
The recovery in rural areas
is also helping consumer firms to normalize their pricing strategy
expect to spend more, according to RBI surveys
Much of this spending is to buy essentials, which in recent months have turned costly due to supply side shocks
