Across India's malls and high streets, the mood at fashion shops is sombre - foot traffic is down, sales are low and many brands are embarking on steeper-than-usual discounts for longer-than-usual periods of time.
have been offering steep discounts, some as much as 70%, far bigger than normal and have also been extending their sale periods, said several store managers.
recently clocked its highest daily box office revenue of $5 million, driven by some hit Bollywood offerings.But worries are mounting about the threat that inflation and high interest rates pose to consumer spending. The bank has forecast India's economy to log slower growth of 6% this fiscal year compared to 7.2% last year.
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