"The kind of feedback that I get is that the demand for manufacturing industry goods is not picking up," ASSOCHAM National Secretary General D S Rawat said.
He said "it will not pick up unless the sectors whichare in difficult situation like real estate, power, mining and some of other sector which will give a strong base for manufacturing sector (improve)"
Rawat was speaking to reporters after releasing ASSOCHAM's Economic Research Bureau report 'Manufacturing Excellence and Emergence in India: The state level analysis', along with the chamber's Karnataka Region Development Council Chairman R Shivakumar here.
Pointing out that in many of the sectors jobs are in difficult situation, he said it was particularly so in the highest job providers'- real estate and agriculture sector. Noting that the government has already given push to infrastructure sector, Rawat said only the public investment is coming.
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In terms of manufacturing sector, while states across India attracted investments worth Rs 34 lakh crore as of FY16, Karnataka accounted for over 10 per cent share with investments worth Rs 3.4 lakh crore with only Maharashtra (12.8 per cent) and Odisha (12.7 per cent) being ahead of it, it added.
Karnataka is also ranked third across top states in India in terms of low ratio of interest cost (0.11 for total interest paid in current year for loans outstanding in previous year, only Odisha (0.08) and Chhattisgarh (0.11) are ahead of the state in this regard.
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