The number of new rich in India will almost double over the next five years, posting the fastest growth of 47%, a latest study says. In comparison, the number of such individuals with a wealth of over $100000 will grow 7% globally and 10% in Asia by 2020, the study says. Self-made individuals who are either salaried, self-employed professionals or entrepreneurs in new age-startups are expected to be close to five crore and the total value of their financial assets is expected to be $879 billion in 2020- almost double of what it was a decade ago.

Shop owners are now planning innovative steps to improve the way people shop at their stores. They are positive the new malls coming up on its fringes will help raise footfall in their stores. E-commerce has made it a big challenge for retailers to sell from the stores. Buyers come, check out products and then order online. So they have to find innovative ways to keep their clothes and shoes relevant. Lots of good shops have shut down.