More pain ahead for India

Indian manufacturing activity shrank for the first time in more than four years last month, adding to the country's deepening economic malaise as the central bank struggles to defend the battered rupee. It follows data on Friday that showed Asia's third-largest economy grew at it slowest quarterly rate in the three months to June since the global financial crisis, suggesting more pain ahead.

Indian manufacturing activity shrank for the first time in more than four years last month, adding to the country's deepening economic malaise as the central bank struggles to defend the battered rupee. It follows data on Friday that showed Asia's third-largest economy grew at it slowest quarterly rate in the three months to June since the global financial crisis, suggesting more pain ahead.

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