The Dichotomy Between Manufacturing and Services in FY 23

Growth recovery in FY 23, not just on quarterly basis, has been led by the services sector disproportionately. This is largely because we saw consumption demand become more holistic and with the late reopening of services, there was a shift in demand decisively from goods to services. So I think that dichotomy between manufacturing and services is something that will continue to remain in flavor,. while there could be somewhat better recovery in manufacturing.