India’s industrial production down 0.5% in March

Industrial production in the country declined by 0.5 per cent in March 2014 compared to the level in March 2013, as the mining and manufacturing sectors continued to slog.

The general index of industrial production during March 2014 grew at a negative rate of (-) 0.5 per cent compared to the level in the month of March 2013.

Cumulative growth of industrial production during April-March 2013-14 over the corresponding period of the previous year stood at (-) 0.1 per cent, showing an annual decline of 0.1 per cent.

Production in the mining, manufacturing and electricity sectors for grew at (-) 0.4 per cent, (-) 1.2 per cent and 5.4 per cent, respectively, in March 2014 while the three sectors registered cumulative growth rates of (-) 0.8 per cent, (-) 0.8 per cent and 6.1 per cent, respectively, during April-March 2013-14 over the corresponding period of 2012-13.

Twelve of the 22 industry groups in the manufacturing sector have shown negative growth during March 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 (-) 33.1 per cent, followed by 'Office, accounting and computing machinery' (- 26.1 per cent) and 'Medical, precision and optical instruments, watches and clocks' (- 21.5 per cent).

On the other hand, the industry group 'wearing apparel, dressing and dyeing of fur' has shown the highest positive growth of 26.0 per cent, followed by 9.2 per cent in 'basic metals' and 6.2 per cent in 'food products and beverages'.

Basic goods production grew 4 per cent year-on-year in March 2014 while capital goods production reported a negative growth of (-) 12.5 per cent and production of intermediate goods increased by 0.6 per cent.

Production of consumer durables and consumer non-durables recorded growth rates of (-) 11.8 per cent and 7.2 per cent, respectively, while overall growth in consumer goods stood at (-) 0.9 per cent.

Some of the important items showing high negative growth are: 'aluminium conductor' (- 61.4 per cent), 'sacking' (- 42.4 per cent), 'woolen carpets (- 40.0 per cent), 'boilers' (- 37.8 per centa0, 'telephone instruments, including mobile phones and accessories' (- 36.9 per cent), 'ship building and repairs' (- 31.0 per cent), 'computers' (- 30.2 per cent), 'earth moving machinery' (- 27.6 per cent), 'commercial vehicles' (- 24.0 per cent) and 'generator/ alternator' (- 21.1 per cent).

Some of the other important items showing high positive growth during the current month over the same month in previous year include 'leather garments' (146.4 per cent), 'heat exchangers' (87.1 per cent), 'sugar machinery' (79.2 per cent), 'stainless/alloy steel' (55.6 per cent), 'lubricating oil' (45.5 per cent), 'vitamins' (29.8 per cent), 'scooter and mopeds' (28.7 per cent) and 'plates' (27.6 per cent).

Along with the quick estimates of IIP for March 2014, the indices the Central Statistical Office has revised the estimates for February 2014 (first revision) and those for December 2013 (final revision) based on updated data.