Retail sales decline 79% from two years earlier
The Hindu
Need government support, says RAI
Retail sales in India slipped 79% in May compared with pre-COVID sales in the same month in 2019, as businesses across States were closed due to the second wave of the pandemic, a survey by Retailers Association of India (RAI) showed. The decline in sales was the steepest in West and North India, which witnessed an 83% dip last month as compared with May 2019, RAI said in a statement. Eastern region saw a decline of 75%, while South was relatively better with a contraction of 73% as compared to the same month in 2019. On a sequential basis, the decline in May was much steeper compared to the previous month, when overall sales across India were down 49% as compared with April 2019, the survey showed.
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