The manufacturing sector growth is dependent on many other factors too like the overall demand scenario in the economy which needs to be further encouraged," he added. "The manufacturing sector performance is on the expected lines as predicted by FICCI survey too last month," he said. According to him, a Ficci survey had predicted the manufacturing sector performance last month. Commenting on the release of Index of Industrial Production (IIP) numbers for April 2016, President FICCI, Harshavardhan Neotia said that the contraction in manufacturing was on expected lines. The sector is waiting on government reforms to have its effect, demand to grow, Ficci President said.

Source: dna June 12, 2016 03:22 UTC