Industry marks higher growth in first quarter

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New Delhi, Jul 19: The latest CII ASCON survey for the period Apr-Jun 2010 revealed that India"s manufacturing sector continued to maintain the growth momentum during the first quarter.

The CII ASCON survey revealed that out of 110 sectors covered, 30 sectors have registered excellent growth rate of more than 20 percent in Apr-Jun 2010 compared to 10 sectors in Apr-Jun 2009.

The number of sectors registering high growth rate has also increased from 18 in Apr-Jun 2009 to 31 sectors in Apr-Jun 2010.

The share of the sectors registering negative growth rate has significantly declined to 15.5 percent in Apr-Jun 2010 from 41 percent in the period Apr-Jun 2009 which is a clear sign of improvement.

According to the survey, the sectors like air conditioners, refrigerators, vehicle industry, passenger cars, natural gas, machine tools, energy meters etc have recorded excellent growth.

CII ASCON survey also tracked export performance of manufacturing industries. Out of 23 sectors reporting exports, 11 were in the excellent growth category, 4 have shown high growth, 2 sectors were in the moderate growth category while 5 reported negative growth.

The survey also described that the rise in the cost of raw material, infrastructure bottlenecks, environmental regulations and procedures, threat of Chinese imports etc are some of the key issues faced by the industry.

The survey result was released in the first ASCON meeting of the year 2010 in Thursday, Jul 15 in Bangalore.

OneIndia News

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