A surge in manufacturing pushed up the country's industrial growth to 12.9 per cent in March 2007, taking the expansion during 2006-07 to 11.3 per cent.
Slowdown in industrial production notwithstanding, a marginal increase in inflation raised the clamour for another round of rate cut by the Reserve Bank on April 4 to boost economic activity.
"The Index of Industrial Production (IIP) is expected to remain subdued and register below 5 per cent growth during the remaining months of FY'12 as production activity continues to be impacted by the slowdown in investment demand and the weak business and consumer sentiment," D&B said in the latest issue of its 'Economic Observer' report.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
The growth rate in the production of eight key sectors slowed down to a 20-month low of 0.1 per cent in October on account of contraction in the output of crude oil, natural gas, refinery products, and cement, according to the official data released on Wednesday. In October last year, these sectors expanded by 8.7 per cent. In September this year, the core sectors' output growth stood at 7.8 per cent.
Industrial production growth rate has declined to 7.6%, due to dismal performance by manufacturing, mining and electricity sectors.
India's factory output maintained its robust pace in March, growing by 13.5 per cent despite monetary tightening and a partial roll back of stimulus measures. Driven largely by manufacturing, this was the sixth straight month of double-digit expansion.
Led by a strong performance from the manufacturing sector, industrial growth shot up to 8 per cent during January 2005 while posting a higher 8.4 per cent growth in the April-January period this fiscal.
A year after a Hamas attack against Israel on October 7 and the ensuing Israeli invasion of the Gaza Strip, India's trade with most West Asian countries has largely escaped any major disruption, except with countries like Israel, Lebanon, and Jordan. However, repeated flare-ups of geopolitical tensions in the region continue to drive up shipping and logistics costs.
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
Jobs requiring AI skills carry a significant wage premium, with some roles offering up to a 25 per cent increase in wages, notes Manoj Nagpal, vice president, professional services, OpenText, an information management company.
Output of consumer durables fell to 3.1 per cent in the first month of this calendar year, against 5.3 per cent growth in the same month last year. In the April-January period production declined to 1.7 per cent, against 10.6 per cent growth in the same period last fiscal. Growth in manufacturing output, which has an overwhelming weight in the IIP, slipped to 5.9 per cent in January, against 12.3 per cent, electricity generation fell to 3.3 per cent, against 8.3 per cent.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
There was more good news for the government on the economic front with the industry recording a 6.5 per cent growth for the first 10 months of the current financial year as against 5.7 per cent during the same period of last fiscal.
Rising interest cost led to drastic deceleration in manufacturing growth to 3.9 per cent in May, compared to 11.3 per cent in a year-ago period. Manufacturing has a weight of over 79 per cent in IIP.
In a double delight, retail inflation eased to a one-year low of 5.72 per cent - staying below the upper tolerance limit for two months in a row, while factory output rose sharply to 7.2 per cent on the back of healthy growth in manufacturing. The retail inflation numbers based on Consumer Price Index (CPI) will provide some room for the Reserve Bank to further moderate the quantum of hike in key interest rate or even press a pause button. The RBI has been on a rate hiking spree since May 2022 in its bid to tame inflation, having raised the repo rate by a cumulative 225 basis points (bps).
Industrial growth in the country revived moderately to 8.8 per cent in June this year on the back of a smart recovery in the manufacturing sector and better offtake of capital goods.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
Negative growth in mining and electricity pulled down the industrial growth to 4.9 per cent in February this year, nearly half of 8.3 per cent growth recorded in the same month previous year.
Multi-asset allocation funds emerged as the most popular option for MFs as they provided the needed flexibility.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
The manufacturing sector, which accounts for over 75 per cent of the total weight of the index, grew by just 5.6 per cent in May.
Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. "All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year. TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
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.
Jio Financial Services Limited, the demerged financial services unit of Reliance Industries, will be excluded from various indices of NSE, including the benchmark Nifty 50, from September 7. Shares of Jio Financial got listed on the stock exchanges on August 21, after its spin-off from parent Reliance Industries. In accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4 and 5 at NSE, the Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023), as per a statement by NSE Indices Ltd on Tuesday.
Snapping an eight-month trend of double-digit rise, industrial growth slid to 7.1 per cent in June from 8.3 per cent a month ago.
Then prime minister Manmohan Singh's brief to his new information and broadcasting minister Manish Tewari on what should be the government's approach to the media was simple -- it should be an essay in persuasion, not coercion.
Powered by the high growth of the manufacturing sector, industrial growth touched 7.6 per cent during the first quarter of the current financial year as against 5.7 per cent during April-June, 2003.
The change in debt fund taxation is seen as boosting the demand for hybrid funds. It is no surprise then that asset management companies (AMCs) have launched a raft of new products in the multi-asset category. However, they seem to be divided on the asset mix and approach. The multi-asset space, which provides fund houses ample scope to innovate, has seen five launches in as many months.
From the Sensex pack, ITC, Titan, Asian Paints, Reliance, Tata Steel, Bajaj Finserv, Axis Bank, Hindustan Unilever, Infosys, Bajaj Finance, Nestle and ICICI Bank were the major gainers. Kotak Mahindra Bank, Mahindra & Mahindra, HCL Technologies, State Bank of India, Bharti Airtel and Tata Motors were among the laggards.
Starting the new financial year on a positive note, the industrial growth more than doubled to 9.4 per cent in April 2004.
Led by a strong performance from the manufacturing sector, industrial growth shot up to 8.4 per cent during April-December this fiscal.
Production of eight infrastructure sectors expanded by 7.9 per cent in September -- the highest in three months -- on account of better show by coal, fertiliser, cement and electricity segments, according to official data released on Monday. In September last year, the growth rate stood at 5.4 per cent. It was 4.1 per cent in August. The previous high was in June when the output expanded by 13.1 per cent.
Led by strong recovery in the manufacturing sector, industry grew at 7.9 per cent in the first six months of the current fiscal compared to 6.2 per cent in the same period last year.
With the manufacturing sector gearing up, India's industrial growth improved to 5 per cent in the first two months of this year as against 4.1 per cent in the previous year, despite mining and electricity sectors performing poorly.\n\n\n\n
The wholesale price index (WPI)-based inflation eased in January to 0.27 per cent, mainly due to moderation in prices of food items. WPI inflation was at 0.73 per cent in December 2023. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.39 per cent.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Industrial production in May slowed to 2.7 per cent from 5.6 per cent a year ago, dragged down by manufacturing, strengthening the case for an RBI rate cut.
Indian industry has logged a growth of 9.5 per cent in April 2006 as against 8.1 per cent in the same month last fiscal.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances