MAM
Consumer sentiment shows recovery and improves with a minor uptick: LSEG-Ipsos PCSI September 2024
Mumbai: Consumer sentiment among urban Indians has improved and has shown recovery in September 2024 with a minor uptick of plus 0.4 percentage points. Further, the consumer sentiment is up for jobs, economy, investments and personal finances, according to the September wave of the LSEG-Ipsos primary consumer sentiment index (PCSI) India report.
The LSEG-Ipsos PCSI maps consumer sentiment on four sub-indices and the sentiment for the PCSI employment onfidence (“Jobs”) sub-index, has seen an uptick of plus 1.1 percentage points, the PCSI urrent personal financial conditions sub index (current conditions) is up plus 0.3 percentage points; the PCSI investment climate (“Investment”) sub-index is up plus 0.1 percentage points; and the PCSI Economic Expectations (“expectations”) sub-index is up plus 0.5 percentage points.
Also, India has ranked second on national index score across 29 markets.
Ipsos India CEO Amit Adarkar has high hopes on H2, after a tough H1: “Consumer sentiment has shown recovery after being downbeat last month. Apart from the overall upswing in consumer confidence this month, the sentiment has shown recovery for daily household spends, savings, economic growth and jobs. H1 saw major cutback by companies due to tough macro conditions and the global economic slowdown, global inflationary conditions and job cuts. With a good monsoon this year and the festival season reaching its pinnacle with navratri, dhanteras and diwali coming up, consumer sentiment should see a major boost next month. Sentiment around jobs improved last month, and this month too consumers are bullish about the job market and hiring. India is also recovering from the havoc unleashed by extreme weather conditions, in terms of flooding and landslides through July and August.”
Consumer sentiment in 29 countries
Among the 29 countries, Singapore (62.5) now holds the highest national index score. Singapore, along with India (62.0) and Indonesia (61.5) are the only countries with a national index score of 60 or higher.
Eleven other countries now show a National Index above the 50-point mark: the Netherlands (57.4), Mexico (55.9), the U.S. (55.0), Great Britain (54.1), Sweden (54.0), Germany (53.7), Thailand (52.1), Brazil (51.3), Malaysia (51.2), South Africa (50.5), and Australia (50.2).
In contrast, just four countries show a National Index below the 40-point mark: South Korea (39.7), Japan (39.4), Hungary (36.4), and Türkiye (30.8).
“Notably, India has stayed among the top three markets with high national index score and stayed resilient despite several global crises popping up one after the other. Being a growth oriented emerging market and its economy resting greatly on domestic consumption, we have been able to offset the extreme impact. Though global economic slowdown has further weakened the rupee against the dollar,” stated Adarkar.
Brands
Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
