Urban consumers in India are cutting back on spending as the festive shopping season begins, impacting car sales, air travel, and packaged food. Meanwhile, rural spending is rebounding due to good monsoon rains and better harvest prospects. This divergence complicates the economic outlook for India’s growth. Urban consumers in India are cutting back on spending as the festive shopping season begins, impacting car sales, air travel, and packaged food. Meanwhile, rural spending is rebounding due to good monsoon rains and better harvest prospects. This divergence complicates the economic outlook for India’s growth.
