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India's industrial output surges fastest in decade

Written by: Staff
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New Delhi, Sep 12: Robust manufacturing, electricity and mining data have helped the country's industrial output in July 2006 to log its fastest growth of 12.4 per cent year-on-year in recent times, official figures released here today show.

The growth in the Index of Industrial Production was attributed mainly to the strong performance of the manufacturing sector which was up 13.3 per cent in July from 4.7 per cent registered a year earlier.

According to the Quick Estimates released here today by the Central Statistical Organisation (CSO), the cumulative growth for the April-July 2006 quarter was 10.6 per cent over the year-ago period.

Indices for the Mining, Manufacturing and Electricity sectors for the month stood at 153.4, 248.8 and 200.4 respectively, registering a growth of 6 per cent, 13.3 per cent and 8.6 per cent compared to July 2005.

The Mining sector, which had lagged behind with a growth of minus 1.9 per cent in the year-ago period, effected a turnaround with a 6 per cent growth in July 2006 while the electricity sector saw an 8.6 per cent jump against a minus 0.9 per cent performance in July 2005, according to the figures.

Manufacturing, occupying two-thirds weight in the index, registered a 13.3 per cent growth in July 2006, picking up from 10.5 per cent in June.

As many as 15 of the 17 industry groups displayed positive growth particularly 'Food Products' which racked up 26.8 per cent growth -- the highest -- followed by 25 per cent in 'Wool, Silk and Man-made Fibre Textiles' of 25 per cent and 'Transport Equipment and Parts' of 22.4 per cent, the figures show.

As per use-based classification, Consumer durables and Consumer non-durables rose by 17.5 per cent and 18 per cent with the overal growth in Consumer goods being 17.9 per cent.

Indices for June 2006 have undergone first revision and those for April 2006 the second revision following updated data received from the source agencies, but these are not significant revisions, the release said.

UNI

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