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These sectors see dramatic growth in India
The print media industry is on a roll, if Index of Industrial Production (IIP) data is to be believed without a pinch of salt.
IIP data showed newspaper production rose 56.7 per cent in April, while overall industrial growth rose merely 0.1 per cent, against 5.3 per cent a year ago. Newspapers account for only one per cent in the IIP.
Together, publishing, printing and reproduction of recorded media recorded growth of 52.7 per cent. This segment, with 10.78 per cent weightage in the IIP, grew 29.6 per cent in 2011-12.
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These sectors see dramatic growth in India
Production of mobile handsets and other telephone instruments, which accounts for only 0.2 per cent of the IIP, rose 30 per cent in April.
Production of polythene bags recorded a whopping 194 per cent rise, while production of cement machinery soared 193 per cent in April. The two have weightages of 0.17 per cent and 0.1 per cent, respectively, in the IIP.
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These sectors see dramatic growth in India
When asked about the numbers, CRISIL chief economist D K Joshi said, "IIP data is very volatile. The deeper you go into it, the more surprising it is."
The output of aluminium conductors rose 42.3 pre cent, followed by boilers at 38.1 per cent, generators and alternators at 37.2 per cent, aerated water and soft drinks at 35.3 per cent and cashew kernels at 31.9 per cent.
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These sectors see dramatic growth in India
Among other categories, medical, precision and optical instruments and watches & clocks (5.67 per cent weightage) saw a 29.4 per cent rise in April, while radio, television and communication equipment and apparatus (9.89 per cent weightage) grew 21.4 per cent.
Economists attributed the trend in consumer durables in April to the spending season. "These months are the spending season. So, there is an increase in sales of consumer durables," said CARE Ratings chief economist Madan Sabnavis.
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These sectors see dramatic growth in India
The consumer goods category was the only silver lining in the use-based classification of IIP. Its production rose 5.2 per cent, against 3.2 per cent in the year-ago period.
Within this segment, consumer durables rose five per cent, against 1.6 per cent in the corresponding period of the previous year.
On the rise in cement machinery output, Sabnavis said, "Cement has been doing well." In April, cement production rose 8.6 per cent.
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These sectors see dramatic growth in India
Controversy surrounded the collection of data for the IIP, when the Ministry of Statistics and Programme Implementation, which compiles the data, calculated the industrial growth in January at 6.8 per cent, against the actual 1.1 per cent.
This was because the Directorate of Sugar had said sugar production stood at 13.41 million tonnes, against the actual 5.81 million tonnes.
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These sectors see dramatic growth in India
The directorate had actually sent sugar production data for October 2011, but the ministry had inadvertently used it to calculate the data for January.
In the IIP data released on Wednesday, industrial growth for January was again scaled down to 0.96 per cent.
