India's industrial production hits a near-20-month high of 17.6 per cent in April

Industrial production in the country grew at a scorching 17.6 per cent year-on-year in April 2010 compared to the level of production in the same month of the previous year, quick estimates of the index of industrial production (base 1993-94) released by the Central Statistical Organisation (CSO) showed.

Industrial production in the first month of the financial year is at a four-month high, which has been surpassed only in December 2009 when Indian industry grew at 17.7 per cent.

The general index of industrial production (IIP) in the country for April 2010 stands at 316.7, which is 17.6 per cent higher compared to the level in April 2009.

The annual rate of growth for the financial year April-March 2009-10 stands at 10.4 per cent compared to the level in the pervious year, according to revised estimates provided by the CSO.

The indices of production for the mining, manufacturing and electricity sectors for April 2010 stand at 197.0, 341.5, and 246.9 respectively, with the corresponding growth rates of 11.4 per cent, 19.4 per cent and 6.0 per cent year-on-year. The revised annual growth rate in the three sectors during April-March 2009-10 stands at 9.8 per cent, 10.9 per cent and 6.0 per cent, respectively, which moved the overall growth in the general index to 10.4 per cent.

In terms of industries, as many as fifteen out of the seventeen industry groups have shown positive growth during April 2010 compared to the corresponding month of the previous year. The industry group 'machinery and equipment other than transport equipment' showed the highest growth of 55.6 per cent, followed by 'metal products and parts, except machinery and equipment' by 51.9 per cent, followed by 'other manufacturing industries' with a 41.4 per cent growth rate.