India's Festive Season Fuels Consumer Boom as Online Sales, Digital Payments Soar
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Festive season spending in India is booming as consumers buy more cars, phones, and TVs, boosting one of the world's fastest growing economies.
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Online sales at Amazon, Flipkart, and others jumped 20% in the first week of festive sales compared to last year.
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Digital payments made through Unified Payments Interface surged about 40% in October versus a year ago.
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Economists point to easing inflation and rising rural wages as supporting increased consumption.
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Manufacturers are adding capacity to keep up with strong demand during the festive season and upcoming wedding period.