India’s
manufacturing sector was steady last month (September 2012) as it enjoyed
support by stronger manufacturing growth and climbing export orders, according
to survey. HSBC Chief Economist for India and the ASEAN Leif Eskesen
said, “Economic activity in the manufacturing sector held steady supported by
faster output growth and rising export orders. The opinion of
some of the business analysts are India will witness considerable rise in
manufacturing cost due to the threat from high food prices and sticky inflation
in India. Since government has clarified that economy will grow at 6.5% during
FY13 and inflation will vary around 7.5-8%, manufacturing cost will impact the
productivity of other sectors. Dr GS
Juneja, chairman, task force on MSME, PHD Chamber of Commerce and Industry,
said, “The cost of manufacturing will grow. The sector will face some problems
as manufacturing cost will raise the cost of other sectors as well.” Prime Minister's
Economic Advisor C Rangarajan said that Centre
stated that it is taking initiatives to redress the situation of poor
industrial growth.
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