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00:00Already on the rise, major malls are pricing in a bumper festive season,
00:04from durables to apparels and electronics to groceries.
00:07Are consumers really celebrating this bachat come out, sir?
00:10Anurag Joshi, my colleague, is here joining us from the Inorbit Mall in Mumbai.
00:15Anurag, what is the situation there? Are there as many shoppers as in Delhi?
00:19The Inorbit Mall in Malad, in the northern suburbs of Mumbai, this mall opened around 11 a.m.
00:33And we had seen a trickle of people walking into the mall, and that footfall has definitely increased.
00:42We see more activity, we see more bustle here in the mall.
00:46And there are many people who are aware about the GST cuts.
00:52And clearly, we spoke to some of them, and they are regular shoppers in this mall.
01:00And one of the differences they found was that there was some saving in their bills.
01:05Not a lot of saving, but some saving.
01:08But this is a multiplier effect from the GST rate cuts.
01:14The consumers are expected to shop more.
01:19It's given them a kind of confidence to go out and look for more deals, you know, shop more.
01:26And at the same time, they know that, you know, now the GST rates are cut to 5% and 18%.
01:34And it's also the start of the Navaratri festival.
01:38So it's still afternoon now, but, you know, by evening, we will get a real pulse over here because the footfalls that have, you know, built up, the momentum, that is the tempo that has risen.
01:48This will go up further, and, you know, we'll find more people coming in.
01:51And that really will, you know, highlight, it will reveal the real consumption story in India about how it's playing out.
01:59And, I mean, this mall, it's a very clear reflection of, you know, what the consumption story of India is.
02:06I mean, it's got garment brand stores.
02:08It's got a department store.
02:10It's got a food mall, and it's got restaurants.
02:13It's got a cinema theater.
02:14And it's got a lot of global brands, too, over here.
02:17And we see, like, in cafes, we see there is more people, like, on Monday morning, more people coming and sitting in cafes over here.
02:25So that, you know, just gives you an idea about how things are.
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