Industry & Economy
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Economy
`Manufacturing sector posts moderate growth'
Our Bureau
New Delhi
,
Feb. 8
TWENTY FOUR of the 139 sectors in manufacturing have recorded growth of 20 per cent or more during April-December 2005, compared to the same period of 2004, according to a survey carried out by the Association Council of the Confederation of Indian Industry (Ascon).
The sectors include pig iron, switchgears, industrial valves, electric motors, machine tools, textile machinery, transmission line towers, split air conditioners and motorcycles, among others, according to the survey.
The survey has also found that 20 sectors, of the 78 sectors reporting sales, registered a growth of 20 per cent or more. Some of these included castings, fluid powers, boilers, microwave ovens and cellular services.
On the export front, the survey revealed that the manufacturing industry showed a slight recovery with 14 sectors registering a growth of 20 per cent or more. Some of the sectors in this category include earthmoving and construction equipment, vehicle industry and drugs and pharmaceuticals.
The survey also pointed out that the consumer durables sector had turned around due to softening of steel prices.
Meanwhile, factors that have restricted the potential growth of the manufacturing sector include issues such as lengthy procedures for obtaining export benefits and unrestricted second-hand goods import.
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