Slowdown is becoming a part of the Indian economic landscape and has started taking a toll on the retail sector.

CNBC-TV18 spoke with Anand Agarwal, CFO of V-Mart Retail, to get his take on the situation on the ground.

According to Agarwal, after the general election, the markets and various sectors have expected some sort of a policy intervention or increased infrastructure spending, which has not happened.

"There is definitely some sentiment around the slowdown and we are witnessing a change probably for the last 7-8 months. We are seeing a little less footfalls in the stores. But now with monsoons coming at a full level, we are hopeful of a recovery. With the festival season coming up, we hope to see some revival but it may not be a full revival," he said.

Consumers are spending a little less on discretionary items. "Thanks to the NBFC crisis, there has been some demand drop across the auto sector. But the space in which we operate, which is apparel, has not seen so much of an impact. But definitely the sentiment is not very positive as of now," he noted.