Industrial output growth climbs to 4.1 per cent in April
12 Jun 2015
India's industrial production grew at a faster pace of 4.1 per cent in April, hitting a two-month high, easing concern over declining output at factories, mines and utilities that has kept the economy on a sluggish phase since February.
The general index of industrial production (base 2004-05) stood 4.1 per cent higher compared to the level in April 2014, quick estimates of industrial production for April released by the Central Statistics Office (CSO) showed.
The cumulative production for the period April-March 2014-15 over the corresponding period of the previous year stood at 2.8 per cent.
The output data, which comes days after GDP data showed India outpaced China by growing 7.5 per cent in the March quarter, supports the government's view that the world's fastest-growing major economy is gathering steam.
Production in the mining, manufacturing and electricity sectors recorded growth rates of 0.6 per cent, 5.1 per cent and (-) 0.5 per cent, respectively, in April 2015 compared to April 2014. Cumulative production in the three sectors recorded growth rates of 1.4 per cent, 2.3 per cent and 8.4 per cent, respectively.
Sixteen out of the 22 industry groups have shown positive growth during April 2015 compared to the corresponding month of the previous year.
The industry group 'machinery and equipment' has shown the highest positive growth of 20.6 per cent, followed by 'Wood and products of wood and cork except furniture; articles of straw and plating materials' (16.2 per cent) and 'electrical machinery and apparatus' (13.4 per cent).
On the other hand, the industry group 'office, accounting and computing machinery' has shown the highest negative growth of (-) 36.5 per cent, followed by 'radio, TV and communication equipment and apparatus' (-) 34.0 and 'tobacco products' (-) 26.7 per cent.
Basic goods industries recorded 2.8 per cent growth in April while capital goods production increased by 11.1 per cent and intermediate goods production grew 3.3 per cent year-on-year.
Production of consumer durables and consumer non-durables recorded growth of 1.3 per cent and 4.4 per cent, respectively, with the overall growth in consumer goods standing at 3.1 per cent.