FICCI comments on IIP Data of November 2016

The IIP data announced today which shows an upsurge in manufacturing in the month of November’16 is in line with FICCI Manufacturing Survey which had projected better outlook for manufacturing in the said time period. It is heartening to note that the growth is broad based & signals a positive jump in the manufacturing production, said Mr. Pankaj Patel, President, FICCI Given the reduction in lending rates announced by several banks, we hope to see an increase in both consumption & investment which will hopefully have a positive impact on manufacturing growth in coming months. We look forward to an accommodative monetary policy stance from RBI to sustain momentum,”