India's core sector bounces back with 6.8 per cent growth in November

Core sector industrial production in the country rebounded to 6.8 per cent during November 2011, from a 5-year low of 0.1 per cent in the previous month. India's core sector industrial production had grown 3.7 per cent year-on-year in November 2010.

The index of eight core sector industries having a combined weight of 37.90 per cent in the index of industrial production (IIP) stood at 141.1 in November 2011, showing a growth rate of 6.8 per cent.

Cumulative growth of the sector for the April-November 2011-12 period, however, was lower at 4.6 per cent against the 5.6 per cent growth reported in the corresponding period of 2010-11.

The revival in core sector activity was led by a 4.9-per cent growth in coal production, compared to a 0.7 per cent growth in November 2010. For the April-November 2011-12 period, however, coal production grew at a negative (-) 4.0 per cent against a growth of 0.4 per cent during the same period of 2010-11.

Production of crude oil (weight of 5.22 per cent in IIP) grew was down 5.6 per cent in November 2011 compared to its growth at 17 per cent in November 2010. Crude oil production registered a growth of 2.9 per cent during April-November 2011-12 against its growth of 11.5 per cent during the same period of 2010-11.

Production of natural gas (weight of 1.71 per cent in IIP) grew at a negative (-) 10.1 per cent in November 2011 compared to a 5.5 per cent growth in November 2010. Natural gas production also registered a negative growth at (-) 8.5 per cent during April-November 2011-12 against its growth of 19.9 per cent during the same period of 2010-11.