As per the Quick Estimates of Industrial Production released by the Central Statistical Organization, the industrial production registered a high growth of 14.4% in November 2006, as compared to the level in the month of November 2005. This is the highest growth in over a decade. Industrial growth during the first 8 months (April 2006 to November 2006) of the current financial year is up by 10.6% as compared to 8.3% registered in the same period last year.
The Manufacturing Sector which has the highest weight in the Index of Industrial Production basket has shown an impressive performance with a robust growth of 15.7% in November 2006. It had grown by 16.1% in May 1996 and in the recent past the closest high growth has been registered in July 2006 at 14.3%.The Mining and Quarrying Sector has shown a growth of 7.0%, while as the Electricity Sector has registered a growth of 8.7% during November 2006 as compared to November 2005.
The industries that have performed well in November 2006 include ‘Basic Metal & Alloy Industries (25.4%), ‘Rubber, Plastic, Petroleum and Coal Products’ (23.2%) , ‘Transport Equipment and Parts’ (21.8%), ‘Other Manufacturing Industries’(19.8%), ‘Cotton Textiles’ (18.3%), ‘Wool, Silk and man-made Fibre Textiles’ (18.2%), ‘Leather and Leather & Fur Products’(17.7%), ‘Non-Metallic Mineral Products' (17.7%), ‘Machinery and Equipment other than Transport Equipment’ (17.3%), ‘Textile Products (including Wearing Apparel)’(16.0% ) and Paper & Paper Products and Printing, Publishing & Allied Industries (15.6% ).
Among the use-base economic sub-groups, Capital Goods have registered an impressive growth of 25.3% during November 2006 over November 2005. The Intermediate Goods have also recorded a high growth of 16.7%. This augurs well for the future growth of the Indian industry.
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SB/NR/MRS
(Release ID :24336)