Subdued growth to continue in manufacturing: Ficci

Export outlook for manufacturing remained positive in the current quarter as compared to the previous quarter

Press Trust of India Kolkata
Last Updated : Nov 11 2013 | 6:22 PM IST
Industry body Ficci today said the subdued growth in manufacturing activity would continue in the ongoing third quarter of the current fiscal.

Releasing a survey report here, president of Ficci Naina Lal Kidwai said: "The low or subdued growth is supported primarily by some improvement on the export front. However, there is a rising concern over the cost of credit faced by the manufacturers as compared to previous similar surveys."

Ficci had conducted the survey among the respondents which were primarily industry leaders.

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Some sectors like leather, textiles, cement, chemicals and textile machineries would see a upturn, while areas like automobile, capital goods and electronics would witness a sluggish growth, the survey indicated.

Export outlook for manufacturing remained positive in the current quarter as compared to the previous quarter.

Regarding investment, 72% of the respondents said they had no plans for investments in the next six months.

Outlook on hiring also looked bleak for the quarter with 75% of the respondents not likely to add people in the next three months.

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First Published: Nov 11 2013 | 6:18 PM IST

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