The revival of consumer confidence

Multiple factors are fortunately converging and providing the much-needed tailwind this time to the economy and to the growth in consumer spending

The current festive season should give a resounding reaffirmation that the economy is back on a steady growth track, and consumers are giving a solid thumbs-up, by spending substantially more on just about every category of consumption of goods and services, compared to the same time a year ago. Accounting for 59 per cent of the country's gross domestic product (GDP) in 2016, the importance of revival of consumer confidence and increase in consumer spending cannot be understated. Sector after sector show the signs of Indian consumers' munificence. The sales of personal vehicles ...