A man wearing a protective mask inside a mall after it reopened following the coronavirus disease outbreak, in Mumbai, India © Reuters / Francis Mascarenhas
Consumer spending in India has contracted by 12.6 percent this year due to the Covid-19 pandemic, according to Fitch Solutions. It expects household spending to return to growth in 2021, expanding by as much as 6.6 percent.
“While growth will return to positive in 2021, we do note the recovery will be slower than most countries, as a result of the significant contraction over 2020,” it said. “Unemployment will remain heightened, while the effectiveness of government support measur
