The Hindu Business Line : Industrial growth marginally down to 8.8 pc in April

DESPITE a strong double-digit growth in the manufacturing sector, the growth in Index of Industrial Production (IIP) dipped marginally during April 2005 to 8.8 per cent, compared to 8.9 per cent in the same month last year.

A slowdown in the overall growth was largely on account of lower growth in the mining and electricity sectors, according to the Quick Estimates of IIP released today.

While the manufacturing sector grew by a robust 10 per cent during the first month of the current fiscal, compared to a 8.8 per cent growth earlier, growth in the mining sector dipped to 3.1 per cent (9.1 per cent), while the electricity sector growth fell to three per cent (10.3 per cent).

The Government also revised the indices for March 2005 and January 2005.

The estimates contained the final annual growth rate for the mining, manufacturing, and electricity sectors.

The revised annual growth in the three sectors in 2004-05 over 2003-04 is 4.4 per cent, nine per cent and 5.2 per cent respectively, with overall growth in the General Index being 8.2 per cent.

The released estimates also contain the final annual growth rate for the mining, manufacturing and electricity sectors.

In the use-based classification, the index stood at 11.4 per cent in April 2005, against five per cent during the corresponding previous period.

The highest growth was recorded in capital goods at 24.5 per cent (10.1 per cent), followed by the consumer durables sector at 18.6 per cent (11.9 per cent).

The consumer goods sector grew by 13.1 per cent (6.5 per cent). In contrast, intermediate goods and basic goods recorded a decline in growth. Intermediate goods grew by 2.3 per cent (12.4 per cent) while basic goods clocked a growth of 5.9 per cent (eight per cent).

As many as 14 of the 17 two-digit industry groups showed positive growth in April 2005, compared to April 2004.

Textile products, including wearing apparel, clocked the highest growth of 23.2 per cent, followed by 20.9 per cent in `other manufacturing industries' and 16.6 per cent in basic metal and alloy industries.

However, wood and wood products, furniture and fixtures showed a 6.3 per cent negative growth, followed by a decline of 4.6 per cent in wool, silk and man-made fibre textiles, and 2.8 per cent in jute and other vegetable fibre textiles (except cotton).

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