While there was a sharp drop in footfalls in malls in H1FY21, there was reasonable recovery in H2. However, the second wave derailed the recovery.
The rise of the mall in India, at a time when many in the United States are becoming debt-ridden white elephants.
At least half a dozen are in the works with increasing brand awareness and growing purchasing power in upper classes.
Shopkeepers are losing buyers in droves to e-tailers for everything from fashion to smartphones, and are struggling to find solutions.
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