Industrial production at nine month low; several sectors bleeding
Updated: Apr 11, 2014 06:32:36pm
New Delhi, Apr 11 (KNN) Industrial production has touched a nine month low, showing an annualised drop of 1.9 per cent in February 2014 with several key items of interest to the MSME sector like apparels, PVC pipes and tubes, HR sheets cable, rubber insulated and telephone instruments reporting a massive decline in the month - as high as 49 per cent in some.
In terms of industries, 13 of the 22 groups in the manufacturing sector have shown negative trend.
The overall manufacturing index dropped by 3.7 per cent while the electricity sector provided some consolation, showing a positive trend of 11.5 per cent.
A small number of sectors such as gems and jewellery, scooter and moped, woollen carpets, and leather garments managed to show positive growth.
The overall mood remained quite subdued with the Index of Industrial Production for February at (-) 1.9 per cent. For the cumulative period of April-February the IIP was (-) 0.1 per cent.
“The new government must ensure that the environment for the manufacturing sector is improved and the industry becomes competitive,” President of the MSME body, FISME, D Gandhikumar said. (KNN)
In terms of industries, 13 of the 22 groups in the manufacturing sector have shown negative trend.
The overall manufacturing index dropped by 3.7 per cent while the electricity sector provided some consolation, showing a positive trend of 11.5 per cent.
A small number of sectors such as gems and jewellery, scooter and moped, woollen carpets, and leather garments managed to show positive growth.
The overall mood remained quite subdued with the Index of Industrial Production for February at (-) 1.9 per cent. For the cumulative period of April-February the IIP was (-) 0.1 per cent.
“The new government must ensure that the environment for the manufacturing sector is improved and the industry becomes competitive,” President of the MSME body, FISME, D Gandhikumar said. (KNN)
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