Financial Daily from THE HINDU group of publications
Monday, Jan 24, 2005
Financial Daily from THE HINDU group of publications Monday, Jan 24, 2005 |
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Industry & Economy
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Economy Manufacturing segment records strong growth in H1: CII survey Our Bureau
New Delhi , Jan. 23 THE manufacturing sector in the country witnessed strong growth in April-December 2004 on a year-on-year basis, according to the ASCON survey carried out by the Associations Council of the Confederation of Indian Industry (CII). Out of the total of 134 sectors reporting production, 30 sectors recorded an excellent growth rate of over 20 per cent. Forty-two sectors recorded a high growth rate of 10-20 per cent, 48 sectors registered moderate growth rate of 0-10 per cent, while 14 sectors reported negative growth, said a CII statement. This shows high growth for the period as compared to last year, wherein only 22 sectors had recorded excellent growth, 46 recorded high growth, 57 sectors reported moderate growth and 20 sectors registered negative growth. According to the survey, industrial furnaces, telecom cables, castings, washing machines, auto components, middle & heavy commercial vehicles (M&HCVs), light commercial vehicles (LCVs), cars, mustard oil, utility vehicles, transmission line towers, transformer, fluid power, electrical fans, tractors, sugar machinery, were in the excellent growth category. Power cables, industrial gases, pumps, plastics, drugs and pharmaceuticals witnessed growth in the range of 10-20 per cent. Out of the 68 sectors reporting sales, 18 sectors registered excellent growth, 19 sectors registered high growth, and 25 sectors reported moderate growth, while six sectors recorded low or negative growth. During the corresponding period last year, six sectors had recorded excellent sales growth, 21 recorded high growth rate, and 40 recorded moderate growth rates while nine sectors had registered negative growth, said the survey. The sectors that reported over 20 per cent growth in sales include auto components, castings, fluid power, industrial furnace, LCVs, utility vehicles, air conditioners, washing machines, tractors, precision tubes and textile machinery. Those in the high growth category include, ball & roller bearings, sponge iron, plastics, electronic components, forgings, motorcycles, and processed food. Cast iron spun pipe, soda ash, tea, and refrigerators, recorded negative sales growth. On the export front, the Indian manufacturing industry is experiencing higher growth compared to the last quarter results. Exports of 18 sectors including auto components, sugar machinery, mopeds and motorcycles have witnessed over shown over 20 per cent growth in exports. The high growth category has 16 sectors including abrasives, castings, electronic components, forgings, precision tubes, air & gas compressors, electric cable & wires, automotive tyre, consumer electronics, air conditioners, computer hardware, paper, processed fruit & vegetables, biscuit, construction and cargo in the high growth category. Ten sectors recorded moderate growth, while nine sectors including cold rolled steel, pig iron, steel, boilers, textile machinery, black and white TV, cigarettes & tobacco and tea registered a fall in exports.
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