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IIP up 8.7% in May, cement leads uptrend

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BS Reporter New Delhi
Ending a downslide in production seen over the past five months, the cement sector grew 9.4% in May as against 6.8% in the month last year.

Data released by the Department of Industrial Policy and Promotion (DIPP) today showed that increased production of cement, backed by enhanced electricity generation as well as petroleum products and steel production, helped the six core infrastructure index grow 8.7% in the months as against 7.2% in the same period of the previous year.

According to Rahul Kumar, COO, Cement Manufacturers Association of India the growth rate seen during May could have been due to commissioning of new plants. "Cement plants have been operating at full capacity and hence, due to higher production levels in the previous year, the growth rate may have been declining," he added.

 

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First Published: Jul 10 2007 | 6:03 PM IST

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