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What recession?

Is August heralding the end of the recession, especially in delhi?

india Updated: Aug 25, 2009 19:33 IST

Is August heralding the end of the recession, especially in delhi?

3 crore opening as b’wood smiles
The early grossings of Kaminey and Love Aaj Kal, plus monies made by Kambakkht Ishq have shown a turnaround in Bollywood’s fortunes. The boon has been welcomed after a dismal year at the box-office compounded by the recession, a strike and lacklustre releases. Production House UTV says the first-week earnings of Kaminey are around Rs 90 crore
without counting Mumbai, Pune and Thane. “Yes, intelligent cinema has beaten recession in the country,” says Bhardwaj, who even exceeded the shooting budget of Kaminey by a few crores.

2 crore sales at india art summit
The second India Art Summit has brought renewed confidence in Indian art and art sales in the country. “In the three and a half days of the summit, 40,000 people walked in and purchased art worth almost Rs 26 crore,” says Neha Kirpal, associate director of the Summit. Half of the works displayed were sold out, and over 30 per cent were bought by ‘first-time’ buyers. Says Mukesh Panika of Religare Arts.I gallery: “There have been signs of recovery over the past months and the summit has only upped the confidence.”

New fashion weeks & three bridal fairs
The year saw two new fashion weeks around the country — Bangalore and Kolkata and preparations are in full force for the country’s first ever Menswear Fashion Week to be held in Delhi next month. With 200 international buyers expected at the upcoming fashion weeks in Delhi and Mumbai; and three more bridal expositions to follow over the next three months — all signal relief for the beleagured fashion industry. Designer Ratna Jain who showed at a bridal exhibition says, “My sales have increased by five per cent. Things are looking up and people are spending.”