FICCI comments on IIP data for July 2016

FICCI
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The fall in manufacturing growth is indeed disturbing and against our expectations. We were hoping, if not high, some moderate growth in manufacturing in the second quarter of this fiscal which looks difficult now. Investment demand remains an area of concern as reflected in the steep decline of capital goods sector” said Mr. Harshavardhan Neotia, President, FICCI. “Weak consumer demand and investments continue to shroud the growth of manufacturing and calls for sustained efforts to address the structural issues that impact manufacturing sector”added Mr. Neotia.

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