India's IIP grows an annual 11.1 pc in May

New Delhi, July 12 (UNI) The Index of Industrial Production (IIP) increased an annual 11.1 per cent in May 2007, as compared to the level during the same month in 2006.

The General Index stood at 264.2, up by 11.1 per cent during the month.

The cumulative growth for the period April-May 2007-08 stands at 11.7 per cent over the corresponding period of the previous year.

The Quick Estimates of IIP with base 1993-94 for the month of May 2007 were released by the Central Statistical Organisation (CSO) of the Ministry of Statistics and Programme Implementation here today.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2007 stand at 168.0, 281.9, and 225.6 respectively, with the corresponding growth rates of 3.7 per cent, 11.9 per cent and 9.4 per cent respectively, as compared to May 2006.

The cumulative growth during April-May, 2007-08 over the corresponding period of 2006-07 in the three sectors have been three per cent, 12.7 per cent and nine per cent respectively, which moved the overall growth in the General Index to 11.7 per cent.

In terms of industries, as many as fourteen (14) out of the seventeen (17) industry groups (as per 2-digit NIC-1987) have shown positive growth during the month of May 2007 as compared to the corresponding month last year.

The industry group 'Woodand Wood Products; Furniture and Fixtures' have shown the highest growth of 132.8 per cent, followed by 40.4 per cent in 'Jute and other Vegetable Fibre Textiles (except cotton)' and 24.8 per cent in 'Food Products'.

On the other hand, the industry group 'Transport Equipment and Parts' have shown a negative growth of 0.1 per cent, followed by five per cent in 'Other Manufacturing Industries'.

As per Use-based classification, the Sectoral growth rates in May 2007 over May 2006 are 10.2 per cent in Basic goods, 22.9 per cent in Capital goods and 9.1 per cent in Intermediate goods.

The Consumer durables and Consumer non-durables have recorded growth of 2.6 per cent and 12.5 per cent respectively, with the overall growth in Consumer goods being 9.8 per cent.

Alongwith the Quick Estimates of IIP for May 2007, the indices for April 2007 have undergone the first revision and those for February 2007 have undergone the second (final) revision in the light of the updated data received from the source agencies.

There are no significant revisions in the indices for February 2007 and April 2007.

UNI