Home Economy Cement, manufacturing sectors picking up

Cement, manufacturing sectors picking up


New Delhi : India’s cement and manufacturing sectors, hit hard by the slowdown last year, are now seeing a turnaround, said a senior government official Tuesday, hoping that it would have a positive impact on other sectors as well.

“The cement and manufacturing sectors are showing improvement. This will have multiple effect on other sectors,” Ajay Shankar, secretary at the Department of Industrial Policy and Promotion, told reporters here on the sidelines of a seminar here.

“We expect these sectors to improve further,” said Shankar.

India’s industrial output grew 1.4 percent in April as against a decline of 0.75 percent in March, which according to analysts, can be seen as early signs of recovery.

Reacting to a World Bank report, which said red tapism was still rampant in India, Shankar said the department was working with the states to reduce bureaucratic hurdles and create a favourable environment for industries and businesses.

Earlier, International Finance Corp, the industrial financing arm of the World Bank, had called for corrective measures to bring down red tapism in India.