Industrial production grows at 11.4 per cent in September
10 Nov 2006
Mumbai:
Industrial production in the country rose by 11.4 per
cent in September 2006 compared to the same month of the
previous year. The growth in industrial production amid
sustained domestic demand and a surge in exports saw a
double-digit growth in manufacturing and electricity sectors.
Rising oil prices that added to inflation and prompted
banks to raise interest rates had little impact on industrial
growth.
The index of industrial production (IIP) during April-September
this fiscal stood at 10.9 per cent as compared to the
corresponding period of 2005-06.
Manufacturing grew by 12.0 per cent in September 2006,
while electricity generation rose 11.3 per cent. Mining
output, however, grew by just 3.9 per cent during the
month, according to
During April-September this fiscal, manufacturing grew
by 12.1 per cent, electricity generation by 6.6 per cent
and mining by 3.1 per cent, figures released by Central
Statistical Organisation (CSO) said.
India's annual economic growth has averaged 8.1 per cent
over the past three years, making it one of the fastest-growing
economies in the world.
Manufacturing output grew 12 per cent in September compared
with 8.9 per cent in the same month a year ago. Mining
production expanded 3.9 per cent in September from last
year, while electricity generation was up 11.4 per cent.
The acceleration during the April-September was driven
by both a surge in exports as well as domestic demand.
Rising middle class incomes have boosted consumer spending
on goods such as cars, phones and television sets and
encouraged companies to invest in new projects.
Car sales increased 23 per cent in the first half of the
current year, while India overtook China in September
in adding new mobile phone subscribers - a record six
million in that month.
Indian companies are also becoming increasingly competitive
in the global market. Exports totalled $59.3 billion,
up 23 per cent from the year before.
The growth in industrial output, coupled with prospects
of a good agricultural harvest, will likely help the broader
economy maintain the momentum seen in recent years.
.webp)
