I-Day boost: Discounts drive 8-10% sales growth; executives eye stronger festive season

India's retail sector experienced an 8-10% year-on-year surge in footfalls and sales during the Independence Day discounts, signaling a potential revival. Electronics, groceries, and apparel saw significant growth, with restaurants also benefiting from increased mall traffic. Retailers are optimistic about a strong festive season, driven by improving demand and supportive government policies like GST rate rationalization expected by Diwali.