Business Daily from THE HINDU group of publications
Thursday, Sep 11, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Sep 11, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Economy Industrial production costs up 10-12% in north: Survey Our Bureau New Delhi, Sept. 10 Industrial units located in North India have reported a 10-12 per cent surge in overall production costs on account of a big rise in costs of raw materials, oil, power, transport overheads and interest costs, according to a PHDCCI survey. “The escalating input prices are adversely affecting corporate margins and operating performance of companies and in the process making a huge dent on India’s image as a producer of low cost goods,” the industry body said in the report. The recent survey was undertaken by the Chamber across units located in Punjab, Haryana, Delhi, Madhya Pradesh, Rajasthan, Himachal Pradesh, Uttarakhand and Uttar Pradesh. Industry feels that the uncertainty in the global market arising out of commodity and fuel prices, has worked its way to adversely affect the production costs in industry, it said. The manufacturing sector has been hit the most with a majority of those surveyed reporting a surge in raw material prices, which is emerging as the biggest threat to industry, it said. The PHD survey reveals that almost all respondents, around 90 per cent of the units, have witnessed a rise of over 10 per cent in their raw material costs. A further break-up shows that a significant majority, around 39 per cent, find that the raw material costs have surged beyond 50 per cent in the last one year. It is only a small minority, around 7 per cent, which have been relatively unaffected by the spiralling commodity and raw material prices. Another serious problem confronting industry is the sharp escalation in fuel and energy bill, the survey said. More Stories on : Economy
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