Industrial output grows 13.6 pc; manufacturing up 15.1 pc
New Delhi: A buoyant manufacturing sector led to a 13.6 per cent year-on-year growth in industrial output in April this year, compared to 9.9 per cent rise in the same month last year.

However, the pace of growth was lower than the upwardly revised 14.5 per cent growth clocked by the Index of Industrial Production (IIP) in March 2007, according to data issued by the Central Statistical Organisation on Tuesday.

Manufacturing output, accounting for 15 per cent of the GDP with 80 per cent weightage in the IIP, rose 15.1 per cent in April, compared to 11 per cent earlier.

The manufacturing sector growth - the second best in a decade after a 17.2 per cent growth registered in November last year - was boosted by strong showing by the consumer non-durables sectors.

Electricity generation in April this year was up 8.7 per cent (5.9 per cent).

Mining remained a drag on the index, rising only 3.4 per cent, the same as last year.

Analysts said the April 2007 industrial output figures defied apprehensions of a moderation in production growth in the wake of the upping of benchmark interest rates six times by the Reserve Bank of India in the last 18 months.
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Job market to remain upbeat in Q3; survey
Bangalore: The job market in India is expected to remain vibrant in the third quarter of the year, with employers in the southern region expressing most optimistic hiring intentions according to the Manpower Outlook Survey covering 27 countries and territories and 4,925 employers.

The survey revealed that employers indicated positive hiring activity in the Asia-Pacific region with India demonstrating a Net Employment Outlook of +39 per cent.

South Indian firms in particular are the most optimistic with a Net Employment Outlook of +44 per cent, which is an improvement of 13 percentage points over the previous quarter. Hiring intentions are relatively weaker in the North, demonstrating a Net Employment Outlook of +33 percent. Sectors surveyed include finance, insurance, real estate, manufacturing, mining, construction, public administration, education, services, transportation and retail.

Joining India in strong hiring intentions are Singapore, Peru, Canada, Argentina, New Zealand, Australia, Norway, Costa Rica, Japan and Hong Kong. Employers in Italy, however, expect to offer the fewest employment opportunities.
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ADAG's Dadri project cleared by Mayawati government
New Delhi: The Mayawati government in UP is said to have communicated to the Anil Ambani-led R-ADAG that it has no problems with the proposed 7400-MW, gas-based power project in Dadri and the company can go ahead with its plans if it can tie up the gas.

R-ADAG, which has acquired the land and received all necessary clearances for the project, is awaiting fuel linkage from RIL. A gas supply agreement between Reliance Natural Resources, an ADAG company, and RIL has run into trouble and is currently sub-judice.

RIL has now invited bids from potential customers in the power and fertiliser sectors to attain a benchmark market price for its gas from the KG basin but did not call for a bid from RNRL.

R-ADAG has not proceeded with the financial closure of the power project as the fuel supply agreement is not in place. Sources said the company has been told to expedite its plans for the Rosa power plant as well.
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