Sunday, March 16, 2025 | 11:40 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

India's manufacturing sector growth lower than world average

Image

Press Trust of India New Delhi

India's manufacturing sector growth during quarter ended March 31 this year stood at 5.1%, which is one-third of China's factory output of 15% and also lower than the world average of 6.5%, according to a UN body report.

"..World manufacturing output grew by 6.5% as compared to the first quarter of 2010," United Nations Industrial Development Organisation (Unido) said in its report on 'World Manufacturing Production Quarter I, 2011'.

The major contribution to such strong performance came from China - its manufacturing output grew by 15%, it added.

The report said manufacturing output of the group of newly industrialised countries increased by 6%, with India's growth estimated at 5.1%, Mexico's growth at 7.4% and Turkey's at 13.8%".

 

The growth rate of other developing countries, including least developed countries, was below 5%, it said, adding that negative growth was observed in Egypt and Tunisia, where manufacturing output fell by 8.9% and 7.4%, respectively during the January-March period.

According to the latest government data, the manufacturing sector growth in the country was recorded at 3.6% each in the month of January and February. It improved to 7.9% in the month of March.

Poor performance of the manufacturing and mining sectors has pulled down the overall growth of industry to 7.8% in FY11 from 10.5% in the previous fiscal.

The manufacturing sector, which accounts for almost 80% of the index, saw its annual growth fall to 8.1% in FY11 from 11% in the previous fiscal.

The report also said, "The world manufacturing output has grown by 6.5% in the first quarter of 2011 compared to the same period last year, which indicates a recovery from the recent financial crisis".

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 05 2011 | 4:39 PM IST

Explore News