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Economy

Deep Dive: Manufacturing growth at near standstill as slowdown concerns mount

Updated : September 16, 2019 11:58 AM IST

Confidence in the Indian economy is giving way to uncertainty as growth in the labour-intensive manufacturing sector has come to a near standstill, braking to 0.6 percent in the last quarter from 12.1 percent in the same period a year earlier.
The economy grew at its slowest annual pace in six years in April-June, 5 percent. Many economists believe Prime Minister Narendra Modi's signature economic policies are at least partly to blame.
Mid-size and small businesses, the backbone of much of India's economy, are still suffering from the combined consequences of demonetisation and implementation of GST, economists say.
Deep Dive: Manufacturing growth at near standstill as slowdown concerns mount

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