Powered by the manufacturing boom, India's industry sectors recorded an impressive 8 per cent growth last fiscal compared to 7 per cent in 2003-04, raising hopes of a higher GDP growth during the year.
The industrial growth could have been higher but for the lower 7.2 per cent growth witnessed in the last month of 2004-05 compared to 8.1 per cent in March 2004.
Manufacturing sector logged an impressive 8.8 per cent growth and propelled industrial growth in 2004-05. The sector had expanded by 7.4 per cent in 2003-04, according to figures released by government on Thursday.
Although electricity showed a marginal improvement to 5.2 per cent last fiscal from 5.1 per cent in 2003-04, mining sector witnessed a slowdown in growth to 4.3 per cent from 5.2 per cent a year ago.
The Index for Industrial Production (IIP) stood at 204.2 points during the fiscal end compared to 189 a year ago. More
The Index of Industrial Production rose to 225.8 points in March 2005 from 210.7 points a year ago.
During March 2005, manufacturing sector expanded by 7.8 per cent, slightly lower than 8.1 per cent in the year-ago period.
Mining sector grew by 5.6 per cent in March this year compared to 5.1 per cent in March 2004, while electricity generation grew by a meagre 3 per cent compared to 10.6 per cent in the last month of 2004.
Fourteen of the total 17 industry groups witnessed positive growth with textile logging the highest growth of 29.4 per cent followed by leather (22 per cent), beverages and tobacco (18 per cent).
The only sectors that showed a decline in production arexwood, wooden products and furniture (11.6 per cent), foodxproducts (4.9 per cent), metal products and parts (0.9 per cent).
Capital goods sector grew by a handsome 14.2 per cent followed by basic goods (6.9 per cent) and intermediate goods (4.1 per cent).
Consumer durables sector grew by 8.2 per cent while consumer non-durables logged 7.2 per cent growth. The overall consumer goods segment expanded by 7.5 per cent.
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