The trickle-down effect.

Recession has trickled down to the streets of Mumbai as well. The 'easy on pocket' street shopping venues in Mumbai have cut down prices by at least 30% and yet the sellers complain that the business is 40% slower as compared to last summer. Munnabhai who has been selling accessories at Colaba Causeway for the last 10 years says, "Almost all the sellers in Causeway have brought down their prices. Last year the earrings that I sold for Rs150, this time around I am compelled to sell them for Rs100." Muddasir Ali who sells singlets and T-shirts at Causeway says, "People are bargaining like never before. I was selling singlets at the price of Rs100 till about 6 months ago and now I am selling it for Rs75." Spectacle frames and antique watch seller Hazrat Ali echoes the sentiment, "If I got 10 customers last summer, this time I can boast of only five to six. All of us have become more open to bargaining but business is slow." [ABSTRACT FROM PUBLISHER]