Mumbai, Oct. 16 -- "The record-low inflation offers a strong foundation for India's next phase of growth. It is a moment of opportunity to revitalize private investment, stimulate consumption, and accelerate job creation," said Mr. Rajeev Juneja, President, PHDCCI in a press statement. Food inflation (Provisional) registered a -2.28 % year-on-year decline, extending its downward trend for the fourth consecutive month. Among categories, the sharpest declines were driven by lower inflation in vegetables, oil & fats, fruits, pulses, cereals, eggs, as well as moderated increases in energy and fuel prices. Better arrivals of vegetables, cereals, and pulses at mandis led to a correction in retail prices, he said.

He added, "The moderation in f...