Mumbai: Its official now. India is really facing the heat of the global slowdown. The Central Statistical Organisation vouches for it.

In the first six months of the current year (in the period ended 30 September 2001), the index of industrial production is woefully down to a growth of 2.30 per cent, as compared to a growth of 5.70 per cent in the corresponding period last year. September has been one of the worst months, with industrial production growing just 1.60 per cent, in comparison to the 5.90 per cent in September 2000.

Coming to individual sectors, mining shows a deceleration of 2 per cent as against a growth of 3.80 per cent in the corresponding period last year. Similarly, the manufacturing sector grew only 2.40 per cent in comparison to a robust 6.20 per cent in the corresponding period and the growth in the electricity sector is up only 3 per cent in comparison to the 3.50 per cent in the corresponding period last year.

From among the individual-user segments, capital goods continue to depict miserable growth rates in the absence of adequate investment in the economy. In the period between April and September 2001, capital goods sector grew a -8.60 per cent, in comparison to the 4.20 per cent in the corresponding period. In September 2001, too, the growth slipped to -11.60 per cent in comparison to the 3.60 per cent in the corresponding period.

But consumer durables bucked the general trend, posting a growth of 18.80 per cent in September 2001. Compare that with the 14.40 per cent in September 2000. However, in the first half ended 30 September 2001, the growth diminished to 12 per cent, in comparison to the 19.70 per cent in the corresponding period.

Consumer goods, on the other hand, faired poorly, with the September growth slipping to 2.60 per cent, in comparison to the 10.60 per cent in the corresponding period. In the first half ended 30 September 2001, growth is down at 5.5 per cent in comparison to the 8 per cent recorded in the first half last year.