September 11, 2023
3 min

Festive Demand Set To Boost Indian Economy Even As Inflation Persists - BQ Prime

The upcoming festive season in India is expected to boost economic activity with an infusion of about Rs 3 lakh crore from the sale of goods. Consumer demand for premium home appliances is anticipated to increase, despite the negative impact of unseasonal rains and floods on consumer sentiments earlier this year. Festive sales are seen as a barometer of the economy's performance. Retail and electronic stores have reported growth in sales, and companies are increasing production for the festive season. Economic indicators have generally held up, with robust demand suggested by payment data. E-way bill volumes and manufacturing PMI remained strong, while automobile sales and merchandise exports declined. Despite inflation and profitability pressures, employment has seen an uptick, particularly in the manufacturing, BFSI, and retail sectors.

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Adhikansh Gupta
Content Manager

Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry