Indian manufacturing has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body FICCI’s latest quarterly survey revealed. The existing average capacity utilization in the Indian manufacturing sector is around 74 per cent, slightly higher than the 73 per cent recorded during the previous quarters. It sought responses from over 380 manufacturing units from both the large and SME segments with a combined annual turnover of over Rs 4.88 lakh crores.
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