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Haves and Have nots

India has always been a country where the spread of wealth is skewed. Last decade or so made middle class become richer at a rapid pace.

Interestingly, it is this very "rich" middle class that is treating the downturn differently.

In my travels across the country this week combined with visits to some shopping malles on the last weekend have given me this insight.

The shopping trip to a mall and supermarket saw very thin crowd and the long queues were missing on the checkout counters. This was the case at Spencers, Big Bazaar and Reliance. Even Bikanerwala that is always buzzing with activity was quiet. PVR and DT cinemas have started a Rs 50 cinema ticket that was unthinkable for a multiplex till recently. Airlines claim that low fares in January did not entice anough travellers.

Contrasting this with a monday morning flight of Kingfisher to Mumbai and that was absolutely full. Airport terminal was rather busy in Delhi. I must hasten to add that Kingfisher has removed "First Class" from many of its planes.

This was again repeated by my visits to Hyderabad and Bangalore. Apart from the fact that these cities can boast of perhaps the best airports in the country, the market seems to be active. Dining at an upmarket restaurant with old friends was not only a gastronomic pleasure but a reaffirmation of the fact that India is still growing, albeit at a lower rate.

Talking to a friend in retail business it was revealed that consumer spending at grocery stores hav not come down albeit there are some cases of downtrading.

Have a lot in mind froma professional and business perspective and will jot down over the weekend after a sleepless week and travel across the country.

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