'India on urban growth recovery path'

Written by fe Bureau | Mumbai | Updated: Oct 30 2014, 07:20am hrs
The urban growth recovery has begun in India as despondency is giving way to a higher consumer confidence due to falling inflation and economic growth expectations, according to Axis Capitals 4th annual survey titled Urban Yatra. This is driving the upper middle class discretionary consumption. Pricing power returning, is usually a precursor to volume growth, the survey said. Axis Capitals eight teams travelled across 21 Tier II-IV towns in 8 states to assess if anecdotal evidence supports the optimism on the urban and semi-urban growth recovery. According to the survey, key drivers of urban growth recovery includes, consumption, government spending and recruitments.