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Grim store sales cast shadow ahead of India's festival of lights

Retailers blame upheaval from "demonetisation" and central govt's subsequent economic reforms

Luxury items have borne the brunt of the austerity this season, with sales of wristwatches, formal wear and jewellery plunging. But the penny pinching is also being felt in other industries usually booming during the festive season.

New Delhi

THIS close to India's glittering festive season, the cash register at Neha Tandon's clothes store should be working overtime as revellers snap up elegant sarees for Diwali celebrations and lavish wedding parties.

But the traditional spending sprees have not transpired...

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