The Hindu Business Line : Industrial growth slips to 6.9 pc in November

The mining sector was the worst performer with negative figure of 1.4 per cent in November 2005, as compared to a 3.6 per cent growth in November 2004.

New Delhi , Jan. 12

INDUSTRIAL growth slumped to 6.9 per cent in November 2005, down from 7.7 per cent during the corresponding month a year ago, mainly due to slowdown in all key areas of manufacturing, mining and electricity.

The cumulative growth registered by the Index of Industrial Production (IIP) during April-November period of current financial year also declined to 8.3 per cent from 8.6 per cent in the corresponding period last fiscal.

According to the data released by the Government, the manufacturing sector, which carries close to a two-third weightage in the IIP, registered a comparatively lower growth at 8.1 per cent during the month under review, as against the 8.6 per cent growth recorded in November 2004.

The mining sector was the worst performer with negative figure of 1.4 per cent in November 2005, as compared to a 3.6 per cent growth in November 2004.

The electricity sector growth fell to 2.7 per cent in November, from 3.4 per cent in same month of 2004.

In all, a majority of the industry groups registered positive growth during November this year.

The sectoral growth rates in November this year were 4.5 per cent in basic goods, 11.8 per cent in capital goods and 2 per cent in intermediate goods.

The consumer and consumer non-durables recorded growth rates of 14.9 per cent and 10.7 per cent respectively, with the overall growth in consumer goods sector being 11.8 per cent.

The wool, silk and man-made fibre textiles grew by 3.4 per cent in November this year against a negative growth of one per cent during April to November 2005.

Similarly, the basic metal and alloy industries grew by 12.5 per cent in November last year against the growth rate of 15.3 per cent per year. During the April to November period, the manufacturing sector registered a growth of 8.1 per cent against a cumulative growth index of 9.4 per cent.

The electricity sector showed a cumulative growth at 4.9 per cent. The `other manufacturing industries' segment showed the highest growth of 21.3 per cent followed by 15.9 per cent in textile products (including wearing and apparel) and 13.3 per cent in cotton textiles. The food products sector grew by 5.8 per cent against a negative cumulative growth of minus 4.3 per cent for the period April to November 2005, while the beverages, tobacco and related products growth was 12.6 per cent for November 2005 against cumulative growth of 17 per cent.