India’s manufacturing sector growth slips to 56.5 in November
Growth in India's manufacturing sector slipped to 56.5 in November stymied by fierce competition and price pressures.
Growth in India's manufacturing sector slipped to 56.5 in November stymied by fierce competition and price pressures.
Instead of creating 10 crore jobs in the manufacturing sector, the country is currently facing the highest unemployment in the last five decades, she claimed.
Goyal said India will be an important consumer market and it is going to see more and more sustainability driving consumer demands.
Chief Minister Yogi Adityanath has set a goal of making Uttar Pradesh a $1 trillion economy in the next five years.
This assessment is also reflective in order books as 55% of the respondents in Q-1 (April-June 2022-23) are expecting higher number of orders, the survey noted.
Interestingly, as per the data furnished by the National Statistical Office (NSO), the revised second quarter GDP growth rate stood at 5.1 per cent from the earlier 4.5 per cent.
Now with the majority of China-based production factories remaining closed the cost of a variety of products, primarily white goods, is expected to hit the ceiling.
The report said that the percentage of respondents expecting low or static production is 59 per cent in the first quarter of 2019-20, which was 46 per cent in the previous quarter.
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