Index of Industrial Production (IIP) for the month of July came in at 3.3% as against 8.8% in previous month, way below the street expectations. The consumer durables segment grew 8.6% in July against 14.6% in the previous month. V Ramachandran, director marketing, LG Electronics India told CNBC-TV18 that growth of the segment was mainly affected by unpredictable weather in the country.
Read full July IIP story here Ramachandran, however, said that the future outlook of the segment depends on how the festive season will pan out going forward.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
