Strong Consumer Spending Boosts India’s Economy During Festive Season
06 November 2023, Mumbai
As per the latest ETRetail report l
India's economy, one of the world's fastest-growing, is booming with consumer spending during the festive season.
People are splashing out on cars, phones, and TVs, buoying growth. Online platforms like Amazon and Flipkart saw sales rise almost 20% in the first week of festive sales compared to last year.
Digital transactions via the Unified Payments Interface also jumped about 40% in October compared to the same month last year.
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