Economic slowdown deepens as the Index of Industrial Production shows a contraction of 4.3% for September 2019. Industrial activity is grinding...

DMK president M.K. Stalin expressed profound concern over official macroeconomic data showing that India's Index of Industrial Production contracted by 4.3 percent in September 2019, reflecting a severe industrial recession. Stalin pointed out that manufacturing output, capital goods generation, and consumer goods production have sharply decelerated, causing factories to halt operations and shed thousands of formal and informal jobs nationwide.

Stalin criticized the Union Government for failing to deliver on its grand promises of economic growth, industrial expansion, and widespread employment creation. Instead of witnessing accelerated development, small enterprises, manufacturing hubs, and industrial clusters across key industrial states like Tamil Nadu are struggling to survive under debilitating credit crunches and falling demand. He questioned whether the central administration possesses any coherent, time-bound policy roadmap to reverse this industrial downturn.

The opposition leader demanded that the Union Government abandon diversionary political rhetoric and focus on reviving core industrial sectors through sensible fiscal stimulus and targeted industrial credit support. Stalin asserted that working families and unemployed youth cannot be left to bear the burden of flawed economic policies, urging immediate administrative measures to restore manufacturing vitality.