Consumer recovery in India getting underway: Fitch Despite unemployment remaining heightened at 8 per cent through 2021 and 2022, consumers' confidence is returning with people expecting an improvement in their general economic situation. This will aid the spending recovery story from H2 2021 onwards. An Indian man displays new 2000 rupee notes outside the Reserve Bank of India (RBI) in Mumbai on November 10, 2016. Long queues formed outside banks in India as they reopened for the first time since the government's shock decision to withdraw the two largest denomination notes from circulation. / AFP PHOTO / PUNIT PARANJPE Household spending in India is likely to grow by a real rate of 7.9 per cent year-on-year in 2021, marking an improvement from the negative 14 per cent contraction in 2020, Fitch Solutions said on Thursday.