India’s industrial production growth declined by 1.9% in February

Industrial production in the country as measured by the index of industrial production (IIP) recorded a negative growth of 1.9 per cent in February 2014, compared to the level in February 2013, pulled down by a 3.7 per cent decline in manufacturing activity, including the production of capital goods and consumer goods.

Cumulative production (IIP) for the period April-February 2013-14 grew at (-) 0.1 per cent compared to the corresponding period of the previous year, quick estimates of industrial production by the Central Statistics Office (CSO) showed.

Production in the mining, manufacturing and electricity sectors grew at 1.4 per cent, (-) 3.7 per cent and 11.5 per cent, respectively, in February 2014, compared to February 2013.

The three sectors recorded cumulative growths of (-) 1.1 per cent, (-) 0.7 per cent and 6.2 per cent, respectively, during April-February 2013-14 over the corresponding period of 2012-13.

Thirteen out of the 22 industry groups in the manufacturing sector showed negative growth during February 2014 compared to the corresponding month of the previous year.

The industry group 'radio, TV and communication equipment and apparatus' showed the highest negative growth of (-) 34.1 per cent, followed by 'electrical machinery and apparatus' (-) 24.6 per cent and 'wearing apparel, dressing and dyeing of fur' (-) 21.3 per cent.

On the other hand, the industry group 'furniture, manufacturing' showed positive growth of 9.3 per cent, followed by 'textiles' 9.1 per cent and 'coke, refined petroleum products and nuclear fuel' 6.1 per cent.

Basic goods production was up 3.9 per cent in February while capital goods production declined by a steep 17.4 per cent. Production of intermediate goods was up 4.2 per cent year-on-year in February 2014.

Production of consumer durables and consumer non-durables recorded growth rates of (-) 9.3 per cent and (-) 1.2 per cent, respectively, with the overall growth in consumer goods being (-) 4.5 per cent.

Some of the important items showing high negative growth are: 'generator/alternator' (- 48.9 per cent), 'heat exchangers' (- 44.8 per cent), 'aluminium conductor' (- 42.4 per cent), 'H R sheets' (- 40.9 per cent), 'telephone instruments, including mobile phones and accessories' (- 36.3 per cent), 'boilers' (- 36.3 per cent), 'rubber insulated cable' (- 32.2 per cent), 'earth moving machinery' (- 28.6 per cent), 'apparels' (- 27.6 per cent), 'colour TV sets' (- 26.8 per cent), 'block board' (-25.6 per cent) and 'PVC pipes and tubes' (- 23.4 per cent).

Some of the other important items that showed high positive growth during February 2014 over February 2013 include 'woollen carpets' (105.3 per cent), 'terry towels' (29.8 per cent), steel structures' (24.7 per cent), 'scooter and mopeds' (22.8 per cent), 'leather garments' (22.6 per cent) and 'gems and jewellery' (21.7 per cent).