International News - India heads for retail boom after spending surge

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.'