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India’s manufacturing sector experienced a slowdown in February, with factory activity growth hitting a 14-month low. The decline was primarily driven by cooling domestic and export demand, impacting new orders and production output.
The S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell to its lowest level since December 2022, reflecting weaker demand conditions. Despite this slowdown, manufacturing remained in the expansion zone, with businesses maintaining optimism about future output growth.
Economists attribute the dip to a combination of factors, including cautious consumer spending, global trade uncertainties, and fluctuating input costs. While the sector continues to grow, the moderation signals the need for policy support and industry adaptation to sustain momentum.
Experts believe that government initiatives, stable inflation, and resilient supply chains could help the sector regain strength in the coming months. However, manufacturers may face challenges if demand remains subdued both domestically and internationally.
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