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India's industrial production growth rose at a pace of 2.5 per cent in March, after its moderate growth of 0.6 per cent in February 2013. The Index of Industrial production had registered a growth rate of 2.4 per cent in January 2013.
The cumulative growth in the April 2012-March 2013 period was 1 per cent, according to the data released by the Central Statistical Office, Ministry Of Statistics And Programme Implementation today.
In March 2012, the IIP had declined by 2.8 per cent, and the cumulative growth in the rate of industrial production was2.9 per cent.
The manufacturing sector, which constitutes over 75% of the index, grew by 3.2 % in March, against its decline of 3.2 per cent in the corresponding period in the previous year. The cumulative growth in the manufacturing sector in the March 2012-April 2013 period was 1.2 per cent. Similarly, the decline in the mining sector output was 2.9 per cent, against the cumulative decline of 2.5 per cent since April 2012. In March 2012, the mining sector growth had declined by 1.1 per cent.The growth in the electricity sector output was 3.5 per cent, when the cumulative growth since April 2012 was 4 per cent. The electricity sector had grown by 2.7 per cent in March 2012.
10 out of 22 industrial groups registered a positive growth during March 2013, over its corresponding period in the previous year. Among industrial groups, ‘Wearing apparel’ shows the highest positive growth of 152.3 per cent, followed by 64.6% in ‘Electrical machinery and apparatus' (64.6 per cent).
Basic good registered a growth rate of 2.6 per cent, against the growth rate of 1.1 per cent in the corresponding period in the previous year. The growth in the capital goods was 6.9 per cent, in comparison to the decline of 20.1 per cent in March 2012. Intermediate goods registered a decline of 0.2 percent, though it had registered neither growth nor decline in March 2012.The Consumer durables and Consumer non-durables have registered a growth rate of -4.5 per cent and 6.5 per cent respectively, against 1.2 per cent and 1 per cent in March 2012 . The overall growth in the consumer goods output was 1.6 per cent, in comparison to the growth rate of 1.1 per cent in March 2012.
Food products and beverages registered a decline of 1.4 per cent, when the cumulative growth since April 2012 was 2.8 per cent. Tobacco products registered a growth in output of 33 per cent in March 2013, when the cumulative growth in the previous financial year was -0.3 per cent.
The core sector had registered a decade low growth rate of 2.6 per cent in the Financial year 2012-13. In March 2013, the growth in the eight core sectors of the industry was 2.9 per cent.
From our archives | How industry performed during the last 6 months
February 2013 | Industrial growth dashes recovery hopes
Despite a low base of 175.2 points in February last year, the Index of Industrial Production (IIP) for the month in 2013 posted a mere 0.6% year-on-year expansion to 176.2 points, data released on Friday showed. Industrial growth was 4.3% in February 2012. However, the growth seen in capital goods, at 9.5%, was significant, against 10.5% in the year-ago period.
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January 2013 | After contracting for two months, IIP rises 2.4% in January
Backed by the manufacturing and electricity segments, industrial production increased 2.4% in January, against 0.49% contraction in December 2012. However, economists were cautious in terming the data a sign of a recovery, as lead indicators suggested poor performances by the automobile and electricity segments in February.
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December 2012 | IIP shrinks again, by 2% in December
After contracting for the first time in 15 years in October, industrial production again crashed by two% in December against a growth rate of as much as 8% a year ago despite a stimulus package announced by the government to boost sagging demand.
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November 2012 | IIP falls to -0.1%
The industrial output, as measured by the Index of Industrial Production (IIP) dipped from a robust 8.3% in October. The decline may prompt the Reserve Bank to consider rate cut in its quarterly review on January 29 to boost growth.
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October 2012| IIP soars to 8.2%, beats estimates
Industrial production growth rate bounced back to a 16-month high of 8.2% in October on good performance of the manufacturing, power sector and higher output of capital as well as consumer goods, indicating sudden recovery in the economy.
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September 2012| Factory output slumps to 1.9% y-o-y
Continuing its dismal performance, industrial growth fell further to 1.9% in September, mainly due to poor output from the manufacturing sector.
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