India records over 150 pc increase in FDI in 06-07

New Delhi, Mar 26: The period April-December 2006 saw one of the highest industrial growth rates ever since the industrial liberalisation process was initiated in 1991, according to the Annual Report of the Ministry of Commerce and Industry.

The report by the Department of Industrial Policy and Promotion (DIPP) says that during the said period witnessed an industrial growth rate of 10.8 per cent compared to an eight per cent growth rate in the corresponding period last year.

The growth was led by the manufacturing sector, which grew by 11.8 per cent in the same period, it said.

Meanwhile, the capital goods sector maintained its robust performance recording a 17.5 per cent growth (Apr-Dec 2006) on top of a 15.7 per cent growth in the corresponding period last year.

''This has been possible due to new investment and capacity addition by the industry. This augurs well for the future growth of Indian industry because plants, machinery and mother goods, which constitute this sector are needed for further production,'' notes the Annual Report released earlier this week.

The infrastructure sector has also shown consistent growth with all the six core industries electricity, crude petroleum, petroleum refinery products, coal, steel and cement registering positive growth rates.

Overall, these sectors grew by 8.3 per cent during April-December 2006 compared to a 5.5 per cent growth in the same period last year.

UNI