The Hindu Business Line : Manufacturing powers 11.7% industrial growth in June

INDIAN industry grew by 11.7 per cent in June 2005 over the corresponding period of the previous year powered by robust growth in the manufacturing, electricity and mining sectors. This is against 7.3 per cent year-on-year growth during June 2004.

This is the second successive month of double-digit growth of the Index of Industrial Production (IIP) with the index having recorded a growth of 10.8 per cent in May 2005 compared to 6.8 per cent in May 2004.

The overall industrial production during the first quarter of the current fiscal (April-June 2005) has also shown a healthy growth of 10.3 per cent against 7.7 per cent in the corresponding period of the previous fiscal, according to figures released by the Central Statistical Organisation (CSO).

The manufacturing sector has taken the lead during June 2005 with a healthy growth of 12.5 per cent against 8.1 per cent in the previous year.

Power sector grew by 9.4 per cent (4.5 per cent) while mining grew by 5.8 per cent (2.7 per cent)

During the three-month period of April-June 2005, manufacturing grew by 11.2 per cent against 8.1 per cent during the same period in the previous fiscal. The power sector too showed improved growth of 7.6 per cent (5.9 per cent) while mining bucked the trend showing lower growth of 4.5 per cent (5.7 per cent).

As per use-based classification, consumer goods sector grew by 23.7 per cent in June 2005 against 9.1 per cent in June 2004, while basic goods rose by 8.5 per cent (2.9 per cent).

Within the consumer goods sector, consumer non-durable grew by 27.5 per cent (6.5 per cent) while consumer durables slowed to 13.3 per cent (16.8 per cent).

Growth in capital goods sector showed lower growth of 10.8 per cent (16.8 per cent) while intermediate goods also was lower at 3.2 per cent (7.4 per cent).

For April-June 2005, consumer goods sector grew by 19 per cent (6.4 per cent), basic goods by 7.6 per cent (4.6 per cent) and capital goods by 14.6 per cent (13.4 per cent). Intermediate goods, however, showed lower growth of 2.8 per cent (10.9 per cent).

As many as 16 of the 17 industry groups monitored under the IIP have shown positive growth during June this year led by textile products with a growth of 37.6 per cent. Basic chemicals and chemical products sector grew 20.2 per cent while beverages and tobacco rose by 19.2 per cent.

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