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FICCI worried over dip in manufacturing growth

The fall in manufacturing growth for three consecutive months does not augur well for the economy, warns the Federation of Indian Chambers of Commerce & Industry (FICCI).

“Growth in the manufacturing sector remains fragile as evident from the fall in the manufacturing index for the last three consecutive months. The delay in the recovery of manufacturing is going to impact overall economic growth. There is a need for addressing the issue of ease of doing business in a comprehensive manner that would pull investments into manufacturing,” said Dr A Didar Singh, Secretary General, FICCI.

“While the Budget has tried to address tax-related issues for manufacturing and we are hopeful that they would yield results, we hope to see further rate reduction in the forthcoming monetary policy that can stimulate demand and investments in the economy to support manufacturing growth” Dr Singh added. 

SOurce: ISMW