By IANS
New Delhi : The slowdown in India’s manufacturing sector is due to an ever-weakening dollar against the rupee but it will revive soon, Commerce and Industry Minister Kamal Nath said Wednesday.
“The decline is due to a weak dollar against the rupee and the higher base of last year,” Kamal Nath told reporters on sidelines of an event here organised by the Confederation of India Industry (CII).
“I am hopeful manufacturing will revive in the coming months,” he added.
India’s industrial output rose a slow 6.4 percent in September compared to last year and steeply lower than the annual growth of 10.7 percent in August. The country’s currency has appreciated 12.5 percent in the last 9-10 months against dollar.
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