The Third Slowdown Month of the Indian Manufacturing Industry
February 4, 2009 – 7:24 pmJanuary had been the third consecutive month to witness the decline of Indian Manufacturing activities- which is not a good sign. This is a worrisome news indeed as the present economic scenario doesn’t allow any laid back activities. Economic slowdown without doubts have played its role as consumer confidence crimped, but the eight days nationwide truck drivers strike also contributed to the manufacturing slowdown. In the absence of transportation facilities it just got difficult to export goods inter-state, and the manufacturing process was on hold. More than 5 million trucks were off-road and hence no vehicle to export or import.
Manufacturing makes about 16% of India’s gross domestic product, and when such an industry comes to a halt, it becomes a matter of concern. Considering this stagnancy a major concern, the Indian manufacturing industry is now upbeat about getting it back on trail and drive maximum profits.