The whole world may be staring at a possible financial meltdown and the economies world over may be scampering to take corrective measures. But the Indians seem to be least affected by the financial scare. During the current festive season, the Indians spent heavily and bought for themselves like there's no tomorrow.
The Indian festive season starts from Ganesh Chaturthi and continues till Diwali. Despite the two-year lockdown and the global financial crisis, Indians have been purchasing automobiles, real estate properties, home appliances and luxury items in large numbers. The total sales are likely to cross Rs 2.2 lakh crore.
According to the Confederation of All India Trade, this is double of the total festive sales in 2019, which was before the onset of Covid. Over the last festive season, the offline sales have jumped up from Rs 20000 crore to 1.25 lakh crore, says the confederation. Compared to last year, the automobile sales have gone up by 57 per cent and real estate sales by 70 per cent.
It is clear that Indian consumers are on a buying spree. The sales of home appliances, mobile phones and luxury items too have gone up. All the seven mega cities in the country too have registered a significant upward trend in sales. Thus, the global financial crisis and the inflation that is worrying the countries across the world seems to have no impact whatsoever on India.
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The Indian festive season starts from Ganesh Chaturthi and continues till Diwali. Despite the two-year lockdown and the global financial crisis, Indians have been purchasing automobiles, real estate properties, home appliances and luxury items in large numbers. The total sales are likely to cross Rs 2.2 lakh crore.
According to the Confederation of All India Trade, this is double of the total festive sales in 2019, which was before the onset of Covid. Over the last festive season, the offline sales have jumped up from Rs 20000 crore to 1.25 lakh crore, says the confederation. Compared to last year, the automobile sales have gone up by 57 per cent and real estate sales by 70 per cent.
It is clear that Indian consumers are on a buying spree. The sales of home appliances, mobile phones and luxury items too have gone up. All the seven mega cities in the country too have registered a significant upward trend in sales. Thus, the global financial crisis and the inflation that is worrying the countries across the world seems to have no impact whatsoever on India.
Note: Your feedback is very important to us. Post them in the comments box down below. Be sure to give us your opinion no matter what. Please do not use abusive language. There are better ways to speak your mind.