Its over for the 1008th time!
People need to understand that India is not the US or Developed world that can blackmail companies with Unions.India is a country that is struggling to industrialize and is in fierce competition with more than a dozen countries for investments. This sort of shenanigans at this stage of development will push companies to leave the country altogether or stop expansion and exports.
Nothing is over.
We follow this pattern every year. It will rise up again from October then again a dip at end of Jan and then again a rise from March-April.
No it’s not over because if it was over than the PMI would be less than 50. The idea of PMI 50 is to show what baseline that the manufacturing is growing or is declining. As long as you have above PMI 50, your production is expanding.