Q3 Manufacturing Growth - What Are Your Concerns?

IAP data for much of the financial year FY23 starting from April 2022, it's been bumpy. The mixed signals that we see in the quarterly GDP data have been reflecting in the IAP numbers as well. So which means recovery has been patchy. It also speaks of waning pent-up demand. And somewhere we have to reconcile the fact that manufacturing as a sector is still coming out of the pandemic while we have attained pre-pandemic levels. But we have materially lost growth or as we have seen a dead weight loss in the economy for at least two to and a half years due to the COVID.