Manufacturing growth to remain subdued in Q3: Ficci

Manufacturing growth to remain subdued in Q3: Ficci
The industry body Ficci on Monday said that India's manufacturing sector growth will remain subdued in the third quarter of current fiscal, weighed down mainly by rising cost of credit as central bank raised interest rates in past few policies.

Ficci's latest quarterly survey on manufacturing said that the sector will see continuation of growth, but that would be subdued.

"This low or subdued growth is supported primarily by some improvement on export front. However, we are seeing rising concerns over the cost of credit by the manufacturers as compared to previous surveys,"said Naina Lal Kidwai, president at Ficci.

The survey said there was some increase in respondents reporting higher level of production in Q3 FY'14 at 52 per cent from 48 per cent in the previous quarter.

The survey also revealed that sectors like leather, textiles, cement, chemicals and textiles machinery will witness increased growth in the third quarter while sectors like automotive, capital goods and electronics are expected to witness sluggish growth.

Dion Global Solutions Ltd.

Story first published: Tuesday, November 12, 2013, 9:11 [IST]
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