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India : the contribution of consumer goods in the index of industrial production has dropped from more 8% in October 2010 to below 4% in August of this year.

By Devita Saraf

This has been the season of the Great Diwali Disappointment for many retailers across brands and cities in a clear sign of the slowing of our economic growth.

Rajesh Kumar Singh/Associated Press
Gold jewelry as showcased in a shop ahead of Diwali, Allahabad, Oct. 24.
While we may not be in crisis mode like many European nations, we can expect a long period of little growth. According to reports by the Federation of Indian Chambers of Commerce and Industry, the contribution of consumer goods in the index of industrial production has dropped from more 8% in October 2010 to below 4% in August of this year.
 

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