India's industry fails to impress; grows at 3.7 per cent in January
11 Mar 2011
Industrial production in the country seems to have gathered steam, but still grew at a slow 3.7 per cent year-on-year in January 2011 against the 1.6 per cent growth recorded in December 2010, official data showed.
The slow pace of recovery in industrial production has been attributed to a negative growth in the production of capital goods in January 2011.
The index of industrial production (IIP) having its base 1993-94=100 stood at 360, up 3.7 per cent compared to the level in January 2010, quick estimates released by the Central Statistical Organisation (CSO) showed.
Cumulative growth of industrial production for the period April- January 2010-11 stood at 8.3 per cent compared to the level in the corresponding period of the previous year.
Production indices for the mining, manufacturing and electricity sectors stood at 220.3, 390.5, and 265.8, respectively, in January 2011, with the corresponding growth rates of 1.6 per cent, 3.3 per cent and 10.5 per cent compared to the January 2010 levels.
Cumulative growth rates in production for the three sectors during April-January 2010-11 have been 7.2 per cent, 8.6 per cent and 5.3 per cent, respectively, which moved the overall growth in the general index to 8.3 per cent.