Manufacturing growth of negative 3.7% in February 2014 is the highest since October 2011. "Such a steep fall in manufacturing disproves that growth has bottomed out.
Both consumer demand and investment conditions seem to be weakening thereby further dampening the outlook for manufacturing" said Dr Arbind Prasad, Director General, FICCI.
"Revival of manufacturing growth requires some bold reforms in the area of business regulatory environment which should be the focus and priority for the Government" noted Dr Prasad.
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