Commerce Secretary Anup Wadhawan said the current slowdown in exports is mainly due to a decline in petroleum products.
The industry hopes that the economy would finally come out of the slump, drawing people back to the showrooms.
The consumer durables sector, estimated to be around Rs 76,400 crore in FY'19, logged a growth rate of about 10 per cent.
?In the last MPC meeting when we took a pause, I don't know why the market was surprised, said RBI Gov Shaktikanta Das.
Our economy is like any other economy in the world... challenges have grown (in recent times), said Minister Piyush Goyal.
Manufacturers expect factors like good monsoon and recent stimulus measures by the government will have positive impact on sales.
Economic growth hit over six-year low of 5 per cent for the first quarter ended June 2019 mainly driven by demand slowdown.
There are expectations that the government would come out with sector-specific stimulus sometime soon.
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