Indians spent big on festive season sales, UPI transaction up by 40 pct in Oct
Updated On: 02 November, 2023 07:57 AM IST | New Delhi | IANS
Aside from the festive season, the Cricket World Cup and the forthcoming wedding season are likely to boost consumption
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Mobiles, electronics and large appliances emerged as the largest contributor to the sales. Image for representational purpose only. Photo Courtesy: istock
Consumer spending in India is soaring during the festive season, with people splurging on cars, smartphones, TVs and other items, boosting the country`s economic growth, media reports said.
According to the reports, sales on e-commerce platforms like Amazon and Flipkart surged by almost a fifth in the first week of the festive season, compared to the same period last year. Digital payments made via Unified Payments Interface (UPI) also increased by 40 per cent in October from a year earlier.
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