Shoppers throng Malls during the new year. Shops offer discounts to attract them to the Malls. People compete with neighbours in doing more shopping. No wonder, the International Council of Shopping Centers is upbeat. A research paper published by the Council states: Mall tenants are currently enjoying industry-leading sales, operating margins and after-tax profit growth. Mall rents have also grown. The situation in India does not seem to follow this bright prognosis, however. Leaving aside a few malls of Gurgaon, the picture is downbeat.