An old man with a cane walks down a dusty lane of a narrow, dusty street in Mumbai, India, in this photo taken March 18, 2017.
The country’s retailing industry has been in a tailspin since the Narendra Modi government came to power.
The rise of online retail, a market dominated by online services, has pushed consumers to buy at brick-and-mortar stores that don’t have a long-term supply chain.
Now, the country’s largest retailer, PetCo, has decided to close its doors and sell its stores to another online chain, Safariland, for $7.7 billion.
The move, first reported by The Wall Street Journal, comes just days after the country began a massive overhaul of its economy that will make it easier for businesses to survive and attract new customers.
India is the second-largest consumer-based economy in the world.
It is also a major source of foreign direct investment, which helps support the countrys economy.
But the country is also grappling with a looming economic downturn and has been hit by a series of power outages.
Some economists have suggested that the country could have a negative effect on its economy, since people can’t afford to go out for shopping and restaurants are struggling to stay open.
The government has already announced plans to reduce subsidies for retailers, including PetCo and Safarild.
PetCo said it will be laying off 20 percent of its workforce, or around 1,400 people.
It will also close its retail outlets in the country.
Safarilla, which operates more than 400 stores across India, has also announced plans for layoffs and restructuring, according to a statement from its chairman and CEO, Rajan Bhagwat.
In India, online shopping accounts for about 80 percent of retail sales.
According to the World Economic Forum, the online shopping market in the United States is expected to reach $8.3 trillion by 2022, up from $4.4 trillion in 2016.
India’s online shopping industry has grown to be one of the fastest-growing in the developing world, overtaking online shopping in the U.S. and France.
The nation has also become one of India’s fastest-developing countries.
It’s a market that relies heavily on low-cost products and services, like e-commerce.
The market is estimated to be worth $6.5 trillion, according a report from the World Bank, with more than half of the country s biggest consumer.