Slowdown disappointing, says FM

Finance Minister P Chidambaram today said there were no signs of a slowdown in investment and that demand will bounce back during festival season, beginning this month.

Commenting on the slowdown in July industrial growth, Chidambaram said: "The slowdown is disappointing. There is no evidence of a slowdown in investment, albeit it has been seen in production in some sectors".

"We will try to find out whether it is due to mild slowing down or whether they have cut back on production. Except for automobiles, there is no evidence of production cut-back either," he said.