Growth momentum in manufacturing sector to continue: FICCI survey

The growth momentum witnessed in the manufacturing sector in the first three quarters of the current fiscal is likely to continue in the last quarter, according to a survey on manufacturing by Federation of Indian Chambers of Commerce and Industry(FICCI). The survey results showed that around 50 per cent of respondents who participated in the survey reported higher production levels in the October-December 2022 period. However, there seems to be some softening of cost pressures on manufacturers in the March 2023 quarter. On the sectoral growth based on expectations, the survey report stated that auto, capital goods, cement, electronics & petrochemicals & fertilisers sectors are expected to see a strong growth while chemicals & pharmaceuticals, textiles, apparels & textile machinery are expected to register moderate growth.