Industrial Production surges by 11.8 per cent in October 2007

New Delhi, Dec 12 (UNI) India's industrial output smartly surged by 11.8 per cent during October 2007 as compared to October 2006 with general index standing at 261.5 points.

The cumulative growth for the period April-October 2007-08 stands at 9.7 per cent over the corresponding period of the pervious year.

The Quick Estimates of Index of Industrial Production (IIP) with base 1993-94 for the month of October 2007 have been released by the Central Statistical Organisation 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 October 2007 stand at 167.3, 279.1, and 221.4 respectively, with the corresponding growth rates of 3.7 percent, 13.3 per cent and 4.2 per cent as compared to October 2006.

The cumulative growth during April-October, 2007-08 over the corresponding period of 2006-07 in the three sectors remained 4.8 per cent, 10.4 per cent and 7.2 per cent respectively, which moved the overall growth in the General Index to 9.7 per cent.

In terms of industries, as many as 16 out of the 17 industry groups (as per 2-digit NIC-1987) have shown positive growth during the month of October 2007 as compared to the corresponding month of the previous year.

The industry group 'Wood and Wood Products; Furniture and Fixtures' have shown the highest growth of 73.7 per cent, followed by 34.2 per cent in 'Other Manufacturing Industries' and 32.2 per cent in 'Leather and Leather&Fur Products'.

On the other hand, the industry group 'Metal Products and Parts, except machinery and equipment' has shown a negative growth of 19.8 per cent.

As per Use-based classification, the Sectoral growth rates in October 2007 over October 2006 are 6.2 per cent in Basic goods, 20.5 per cent in Capital goods and 14.2 per cent in Intermediate goods.

The Consumer durables and Consumer non-durables have recorded growth of 9.3 per cent and 13.9 per cent respectively, with the overall growth in Consumer goods being 12.5 per cent.

Alongwith the Quick Estimates of IIP for October 2007, the indices for September 2007 have undergone the first revision and those for July 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 July 2007 and September 2007, an official release here said.

UNI