India is on the verge of a retail boom, following a solid rise in consumer spending last year.
Consumer spending in India increased by 12 per cent last year, according to Arvind Singhal, chairman of mana-gement consultancy KSA Technopak, who was speaking at the KSA Indian Retail and Consumer Outlook conference last week.
He said that spending would now increase across all categories, and forecast a boom for the value sector because of families aiming to reduce spending on basics in order to spare more for luxury items and travel.
He added: 'The Indian consumer is geared for the retail boom, but in order to respond to the evolving needs retailers must harn-ess all components of the retail mix.'
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