Key Points
Indias festive season spending is booming as consumers splurge on cars, smartphones and TVs, buoying growth in one of the worlds fastest-expanding economies...
Sales at online platforms like Amazon.com Inc., and Walmart Inc.-owned Flipkart was up by almost a fifth in the first week of the festive sales from a year ago..
Digital transactions recorded by Unified Payments Interface surged about 40% in October from a year earlier...
Indias festive season usually runs for several weeks until the Hindu religious holiday of Diwali which takes place on Nov. 12 this year with millions of Indians often binging on food, gifts and home improvements..
The continuing fiscal support directed toward rural areas ahead of polls could further boost consumption in the sector, they said.. Stronger spending is helping to drive manufacturing activity in Asias third-largest economy and underpinning growth of more than 6% in the current fiscal year that ends in March..
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