India's manufacturing sector has witnessed a noticeable slowdown in April 2024, with output growth decelerating to 3.9% from the 5.2% recorded in March 2024. The latest data, updated on 12 June 2024, highlights a considerable month-over-month decrease, reflecting the challenges faced by the nation's industrial activities.
The sharp decline in manufacturing output growth is a cause of concern for economists and industry stakeholders. In March 2024, the output had shown robust growth at 5.2%, compared to the preceding month, indicating a relatively strong period for the sector. However, the drop to 3.9% in April marks a significant reduction in manufacturing momentum.
Analysts are closely monitoring potential reasons behind this downturn, which could range from supply chain disruptions to fluctuating raw material prices and changing demand dynamics. As India strives to maintain its industrial productivity, understanding and addressing the root causes of this slowdown will be critical for sustaining long-term economic growth.
