As the Covid-19 pandemic hit India in 2020, the luxury sector was one of the hardest hit. With lockdowns across the country, and malls and high street stores shut, the crisis hit the industry badly. According to estimates by Euromonitor International, the Indian luxury goods market took a deep 33 per cent hit and fell to $5 billion in 2020 as the pandemic took its toll. But today, over a year later, as we enter the festive season in 2021, things look vastly different. With the government’s massive vaccination effort gathering momentum, and the debilitating second wave of the pandemic behind us, India looks set to get back to a path to recovery. The Reserve Bank of India (RBI), in its latest monetary policy statement, has also retained its FY22…
