Despite domestic demand improving, the Reserve Bank of India (RBI) acknowledged that the manufacturing sector is showing signs of a slowdown. During the October 2024 Monetary Policy Statement, Governor Shaktikanta Das stated that while manufacturing activity had initially gained momentum, certain areas are beginning to exhibit signs of deceleration.
This assessment comes as the RBI continues to monitor the overall health of the economy, weighing inflationary concerns against growth prospects. The central bank’s outlook on manufacturing underscores the need for sustained support to ensure economic recovery remains on track.
Disclaimer: This article is based on the RBI’s updates during the October 2024 Monetary Policy meeting.
