The Hindu : Industry rebounds with 6.4 p.c. growth in Feb.

Online edition of India's National Newspaper
Friday, Apr 11, 2003

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Industry rebounds with 6.4 p.c. growth in Feb.

By Our Special Correspondent

NEW DELHI APRIL 10. Industrial growth during April-February 2002-03 is estimated at 5.7 per cent as against 2.6 per cent in the same period of last fiscal. Besides, a buoyant 6.4 per cent growth has been recorded in February alone largely due to robust growth in the manufacturing and mining sectors.

According to the quick estimates of the Index of Industrial Production released by the Central Statistical Organisation, the 6.4 per cent growth in February is substantially higher than the 2.4 per cent rise recorded in the same month last year.

Giving data for February, the CSO says the manufacturing sector showed improved output of 6.5 per cent growth in February compared to 2.9 per cent a year ago.

The overall growth in the manufacturing sector was 5.8 per cent during the first 11 months as against 2.8 per cent in the same period a year ago.

The mining sector also showed strong performance, registering 7.2 per cent growth in February from 2.1 per cent a year ago.

The aggregate growth was 5.7 per cent during the 11-month period as against a marginal 1.1 per cent in April-February of the previous year. The electricity sector grew only marginally with a rise of only 0.1 per cent i February compared to 2.9 per cent a year ago. The overall growth was higher at 3.5 per cent in the April-February compared to 2.9 per cent in the year ago period.

The CSO says as many as 14 out of the total 17 industry groups showed positive trends. Beverages, tobacco and related products recorded highest growth with 36.7 per cent increase followed by textile products with 17.3 per cent and 17.2 per cent in leather and fur products.

Cotton textiles sector showed negative growth of 8.4 per cent while wood and wood products along with furniture and fixtures witnessed a negative 6 per cent growth in February.

The overall growth of consumer goods was considerable at 6.1 per cent, but the consumer durables sector witnessed a 9.4 per cent fall in growth that was compensated by a robust 11.1 per cent growth of consumer non-durables sector in february.

Capital goods recorded 9.9 per cent growth while basic goods sector rose by 4.9 per cent and intermediate goods sector by 5.9 per cent.

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