Higher income households to drive revival in consumer spending, says CMIE

Higher income households, with higher savings and better sentiments, will drive the revival in consumer spending in India, the Centre for Monitoring Indian Economy said. “India’s revival in consumer spending is likely to be driven by households that earn more than a million rupees a year when the lockdown is lifted,” CMIE said in its … Read more

Indian consumers turn more glum about the future, survey shows

Indian consumers turned more pessimistic about the present and less gung-ho about the future, making them less likely to spend big in an economy that’s driven by domestic consumption. The current situation index fell to 53.1 in March from 55.5 in January, according to the Reserve Bank of India’s consumer confidence survey, where 100 is … Read more