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India’s Diwali Spending Season Shows a Lingering Pandemic Divide
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India’s peak retail season, which culminates soon after the Diwali festival, is showing signs of robust shopping despite higher prices. But an uneven return to discretionary spending among India’s consumers could spell challenges ahead for the economy, companies and economists say.
This festival season, retail sales in India’s stores are expected to be around $18 billion, up 50% from the same period last year and nearly double those in the pre-pandemic year of 2019, according to the Confederation of All India Traders.
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