Retailers in India witnessed a 64% de-growth year-on-year in the first two weeks of July, as they continued to face a sharp decline in business owing to the pandemic, a survey has found. The latest monthly survey by the Retailers Association of India (RAI) found “no sign of recovery” yet from Covid-19 for the sector that has been severely hurt by the pandemic. The survey, conducted between July 1-15, showed a marginal improvement from 67% drop in business for the full month of June. RAI, which represents thousands of modern retailers including Reliance Retail, Future Group and Shoppers Stop, has been conducting monthly surveys. The fourth edition of the survey showed a marginal improvement in situation from April, when the overall business had plunged 88% as India imposed a strict lockdown in a bid to curb the spread of the virulent disease.

(Economic Times)