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At an end-of-season sale at Lulu Mall in the southern Indian city of Cochin, huge crowds threatened to create a human crush as stores offered up to a 50 per cent discount. The frantic scenes captured on social media this month came as India bounced back from the coronavirus pandemic, which depressed output and exacted a severe humanitarian and commercial toll on Asia’s third-largest economy. But this recovery is facing growing risks, most notably from rising prices stoked largely by India’s reliance on imported oil.
SOURCE: FINANCIAL TIMES