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IIP growth doubles in April-Jan.

By Our Special Correspondent

NEW DELHI MARCH 12 . With a 6.4 per cent industrial growth registered in January this year, the overall Index of Industrial Production (IIP) for April-January 2002-03 has more than doubled to record a growth of 5.5 per cent. Industrial growth in the comparable period of 2001-02 was only 2.6 per cent.

All the three segments of industry achieved higher growth rates in 2002-03 over that recorded in April-January 2001-02. Mining, for instance, was up 5.4 per cent against 1 per cent while manufacturing was up 5.8 per cent against 2.8 per cent. Electricity generation was also higher at 3.8 per cent growth rate against 2.9 per cent.

The corresponding figures for January alone show mining to have grown 2.7 per cent against 2.3 per cent in January 2002, manufacturing 6.9 per cent against 4.1 per cent and electricity generation recorded a 4 per cent growth, the same as in January 2002.

Consequently, the IIP for January was higher at 6.4 per cent against 3.8 per cent.

Use-based statistics show that basic goods production was up 4.6 per cent in April-January against 2.4 per cent in the same period of 2001-02, capital goods were up 10.6 per cent against a negative 4.8 per cent, intermediate goods by 3.1 per cent against 2 per cent and consumer goods by 7.2 per cent against 6.1 per cent.

In this segment, consumer durables were down (negative) 4.9 per cent against a growth of 12.5 per cent in April-January 2001-02 while consumer non-durables were up 11.9 per cent against 3.8 per cent.

The corresponding figures for January show that basic goods production was up 4.8 per cent against 4.2 per cent in January 2002, capital goods by 11.6 per cent against a drop (negative) 4.7 per cent, intermediate goods by 7.3 per cent against 2.5 per cent while consumer goods grew only 5.6 per cent against 7.2 per cent.

In this segment, consumer durables were up only 0.5 per cent against 15.5 per cent and consumer non-durables by 7.2 per cent against 4.9 per cent.

The data also show that as many as 15 of the 17 two-digit industry groups have shown positive growth in January.

Beverages, tobacco and related products have reported the highest growth of 37.9 per cent, followed by 24.2 per cent growth in jute and other vegetable fibre textiles (except cotton) and 16 per cent in textiles products (including wearing apparel).

On the other hand, wood and wood products, furniture and fixtures have shown a negative trend of 14.3 per cent, followed by a 3.1 per cent decline in cotton textiles.

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