India’s Manufacturing Sector on the Wane in December Quarter: Ficci
New Delhi: Revival prospects for India’s manufacturing sector in the October-December quarter seem to be weakening mainly due to a sluggish exports scenario, according to Ficci.
The industry chamber in a survey had earlier indicated a revival in the manufacturing activity in the second quarter of the ongoing fiscal, which seems to be slowing down little bit in the October-December period, as a lesser percentage of respondents expect high growth to continue in the quarter under review.
“The percentage of respondents expecting higher growth in the December quarter has gone down to 55 per cent as compared to 63 per cent for the previous three months,” Ficci said.
“Exports are primarily responsible for this less optimistic outlook besides domestic factors like poor demand conditions, high interest costs etc.,” it added.
The latest quarterly survey gauges the expectations of manufacturers for the third quarter for twelve major sectors namely textiles, capital goods, metals, chemicals, cement and ceramics, electronics, auto, leather and footwear, machine tools, food, tyre and textiles machinery.
Read full article: NDTV
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