This isn't quite the truth. In fact, I'd say that everything has kind of stalled in India. Real estate development has stalled, the auto industry is in a downward spiral (8 consecutive months of negative growth; sales down almost 25% YoY), and demand for consumer electronics is dwindling. There's a credit crunch thanks to banks getting rid of non performing assets. Add to that, there's a shortage of water.
Pune, I reckon, is one of those boom towns since so many corporates are moving there because Bengaluru and Mumbai are too overcrowded.
But the car sales slump, at least, is very well documented. There's been a drastic fall in demand and everyone is bandying about myriad reasons (fuel prices, ridesharing, etc.). I just think people don't have enough money
