GDP growth slips to 4.5 %, affects hosiery industry

GDP growth of India slipped to 4.5 % in the 2nd quarter of FY20. It marked the slowest expansion in 26 quarters. It was mainly on account of weak manufacturing and a drop in exports due to a global slowdown. The data also affected the hosiery industry. One of the shop owners in the hosiery industry said, “The season is right but people have no money as such. I request the government to help us.”