Industry grows 6.3% in Apr-Dec

Aided by a high growth in the manufacturing sector, the industrial growth in the country touched 6.3 per cent during April-December 2003 as against 5.5 per cent during the corresponding period of 2002.

According to the Quick Estimates of Index of Industrial Production, industry grew by 6.2 per cent in December 2003, same as in the comparable period of the previous year.

The manufacturing sector is estimated to have grown by 6.8 per cent during the first nine months of the current financial year as against 5.7 per cent of April-December, 2002-03.

The electricity and the mining sector, however, registered a lower growth of 3.4 per cent and 4.0 per cent respectively during April-December, 2003, as against 3.8 per cent and 5.8 per cent during the corresponding period of the 2002-03 financial year.

The figures released by the Central Statistical Organisation says as many as 12 of the 17 two-digit industry groups have shown positive growth during the month of December 2003 as compared to the corresponding month of the previous year.

The group "machinery and equipment other than transport equipment" is estimated to have shown the highest growth of 16.8 per cent followed by 16 per cent in "paper and paper product and printing, publishing and allied industries" and 13.6 per cent in "leather and leather and fur product".

On the other hand, "jute and other vegetable fibre textiles (except cotton) have shown a negative growth of 11.3 per cent followed by a decline of 8.7 per cent in "wood and wood products: furniture and fixtures" and 8.5 per cent in "textile product (including wearing apparel).

The mining sector showed a growth of 4.1 per cent during December 2003 as against a high of 6.1 per cent during the same period of 2002.

The electricity sector, however, registered a growth of 4.9 per cent during December 2003 as against 2.8 per cent in December 2002.

As per use-based classification, the growth in December, 2003, over December, 2002, is 4.7 per cent in basic goods, 9.8 per cent in capital goods and 9.2 per cent in intermediate goods.

The consumer durable and consumer non-durable have recorded growth of 10.8 per cent and 1.9 per cent respectively, with the overall growth in consumer goods being 3.8 per cent, the IIP estimates point out.