June 12, 2016

IIP data shows industrial revival will be tough

Disappointed over the latest Index of Industrial Production (IIP) data, India Inc said, on Friday, that industrial revival is going to be a major challenge going ahead but expressed hope that the growth will pick up on account of the recent measures taken by the government.

“The negative growth of general index further worsens the prevailing levels of demand-supply imbalances in the country. The significant shrinkage in production of capital goods and consumer non-durables shows that industrial revival is going to be one of the major challenges in days to come,”   Associated Chambers of Commerce of India (ASSCHAM) Secretary General D S Rawat said.

“The growth in manufacturing may take some more time to pick up as the measures taken by the government in the last few months start yielding results,” Federation Of India Chamber Of Commerce & Industry (FICCI) President Harshavardhan Neotia said.

Read more at http://indianexpress.com/article/business/economy/iip-data-reveal-industrial-revival-will-be-tough-2846095/

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