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Industrial Production picks up by 4.3% in August, 2017

By TIOL News Service

NEW DELHI, OCT 12, 2017: AS per the CSO's latest data, the industrial production has grown by 4.3% in the month of August. The cumulative growth for the period April-August 2017 over the corresponding period of the previous year stands at 2.2 percent.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2017 stand at 92.7, 123.3 and 155.4 respectively, with the corresponding growth rates of 9.4 percent, 3.1 percent and 8.3 percent as compared to August 2016. The cumulative growth in these three sectors during April-August 2017 over the corresponding period of 2016 has been 3.3 percent, 1.6 percent and 6.2 percent respectively.

In terms of industries, 10 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of August 2017 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Manufacture of computer, electronic and optical products’ has shown the highest positive growth of 24.9 percent followed by 16.5 percent in ‘Manufacture of pharmaceuticals, medicinal chemical and botanical products’ and 11.1 percent in ‘Manufacture of other transport equipment’. On the other hand, the industry group ‘Manufacture of furniture’ has shown the highest negative growth of (-) 16.0 percent followed by (-) 15.1 percent in ‘Manufacture of tobacco products’ and  (-) 11.4 percent in ‘Printing and reproduction of recorded media’.

As per Use-based classification, the growth rates in August 2017 over August 2016 are 7.1 percent in Primary goods, 5.4 percent in Capital goods,    (-) 0.2 percent in Intermediate goods and 2.5 percent in Infrastructure/ Construction Goods.  The Consumer durables and Consumer non-durables have recorded growth of 1.6 percent and 6.9 percent respectively.

Some important items showing high positive growth during the current month over the same month in previous year include ‘Meters (electric and non-electric)’ (63.3%), ‘Separators including decanter centrifuge’ (56.6%), ‘Digestive enzymes and antacids (incl. PPI drugs)’ (33.7%), ‘Anti-pyretic, analgesic/anti-inflammatory API & formulations’ (29.6%), ‘Pipes, tubes & casing of steel/ iron’ (27.4%), ‘Axle’ (26.0%), ‘Telephones and mobile instruments’ (23.2%) and  ‘Full-cream/ Toned/ Skimmed milk, whether or not chilled’ (22.4%).

Some important items that have registered high negative growth include ‘Anti-malarial drug’ [(-)68.4%], ‘Jewellery of gold (studded with stones or not)’ [(-) 46.0%], ‘Plastic jars, bottles and containers’ [(-) 42.0%], ‘Tooth Paste’ [(-) 39.9%], ‘Other tobacco products’ [(-) 38.2%], ‘Electrical apparatus for switching or protecting electrical circuits (e.g switchgear, circuit breakers/switches, control/ meter panel)’ [(-) 33.7%] and ‘Palm Oil refined (including Palmolein)’ [(-) 29.3%].

Along with the Quick Estimates of IIP for the month of August 2017, the indices for July 2017 have undergone the first revision and those for May 2017 have undergone the final revision in the light of the updated data received from the source agencies.