Cash ban, Goods and Services Tax may fail to dampen festive spending

India still remains among world's top three countries in terms of consumer confidence, Nielsen said

After the initial hiccups due to the implementation of the goods and services tax (GST), shoppers are slowly beginning to throng retail stores. 

At the Santacruz (West) store of consumer electronics chain Vijay Sales in Mumbai, some are looking to buy televisions and home appliances and others are shopping for gifts. "The occasion is auspicious," says Nilesh Gupta, managing partner, Vijay Sales. "Festivals such as Ganeshotsav and Onam are upon us, and the next two months will be hectic. Shoppers, looking for new products for their homes, will only grow. We are looking forward to a good festive season," he