Manufacturing growth of just 1.6% presents an ambivalent picture: Madan Sabnavis

“In my view, the RBI would probably continue with one more rate increase in February and could reach 6.5% after which, there could be a longer pause, depending upon how the inflation numbers look. While overall the number does look good for the entire year, we could still end up with a growth rate of around 5% to 6%. Looking at the specific industry performance within the manufacturing sector, that is what should actually be catching our attention.”