Business

Indians shop heavily during festivals November domestic retail sales up 9% from pre-Covid levels

Photo: PTI

Indians shop heavily during festivals, domestic retail sales up 9% from pre-Covid levels in November

Highlights

  • Retail sales in the domestic market in November increased by nine percent from the level before the epidemic.
  • Fear of third wave of epidemic due to Omicron variant cause for concern
  • Last month the growth rate was 16 percent compared to the same month of 2020

New Delhi. Retail industry body RAI said retail sales in the domestic market in November grew by nine per cent over the pre-pandemic levels in November 2019, indicating a recovery in the country. However, RAI said that the possibility of a third wave of the pandemic due to the Omicron variant is a cause for concern.

The Retail Association of India (RAI) in its retail trade survey said that the growth rate last month was 16 per cent as compared to the same month of 2020. According to the survey, retail businesses across sectors have indicated an increase in sales compared to pre-pandemic levels. During this period, Western India indicated a growth of 11 percent as compared to November 2019, while this figure stood at nine percent in East and South India and six percent in North India.

Commenting on the retail performance, RAI CEO Kumar Rajagopalan said, “Business is improving and we expect this trend to continue. However, there are concerns about a third wave due to Omicron, prompting caution.

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