Enthused by the 11.8% growth in industrial production in October, Finance Minister Chidambaram today described the industrial outlook as "encouraging"."(Industrial production) outlook is encouraging. However, April-October figure is slightly lower than last year's figures for the same period," Chidambaram said while reacting to the index of industrial production (IIP) figures released by the government today.Chidambaram added that the government would have to wait for the industrial production figures for November before reaching any conclusion.On whether the finance ministry's package for exporters, especially for textile and leather sectors, was yielding results, he said: "Let us see... It is only one month's figures."Replying to questions on the impact of the recent decision of the US Federal Reserve to cut interest rate, the Finance Minister said: "The difference between the interest rate has increased. Let us see (the impact)."
