India Inc posts strong growth: Study
By agencies   |   Monday, 04 April 2005, 19:30 IST
Printer Print Email Email
NEW DELHI: India Inc has shown positive growth signs for the second consecutive year in 2004-05, according to an ASCON survey carried out by the Council of the Confederation of Indian Industry (CII). The number of sectors reporting excellent growth in sales jumped to 39 against 35 sectors in 2003-04. A total 68 sectors were surveyed. The number of sectors reporting negative or low growth in sales, too, dropped to seven during 2004-05 against nine in 2003-04. The survey has also pointed out that 22 sectors reported moderate growth in 2004-05 while 23 recorded moderate growth in 2003-04. The survey revealed that sponge iron, auto components, electronic components, fluid power, diesel engines, textile machinery, industrial furnace, tractors, transmission line towers, housing finance and cellular services were some of the sectors that showed excellent growth. Those in the high-growth category included asbestos cement, natural gas, paints, abrasives, refractories, pumps, motorcycles, cast iron spun pipe, soda ash, and polyester filament yarn. The survey also revealed that the manufacturing sector reported satisfactory growth. Of 134 sectors reporting production, 34 sectors recorded an excellent growth rate of more than 20 percent. The CII said 43 sectors recorded a high growth rate of 10-20 percent, 49 sectors registered a moderate growth rate of 0-10 percent while 8 sectors reported negative growth. During the corresponding period last year, only 28 sectors had recorded excellent growth, 38 recorded high growth, 50 sectors reported moderate growth and 19 sectors had registered negative growth. According to the survey, diesel, petrol, sponge iron, switchgears, auto components, nylon filament yarn, fluid power, argon gas, air and gas compressors, boilers, diesel engines, textile machinery, transmission line tower, rubber footwear, housing finance, edible oils and cellular services were in the excellent growth category. Sectors like paint, capacitors, forgings, industrial valves, machine tools, pumps, transformers, biscuit, and tourism were all in the high growth category. 39 sectors reported excellent growth in sales in 2004-05 against 35 in 2003-04 The CII also said the manufacturing industry had remained buoyant on the export front. The latest survey indicates that 20 sectors have shown excellent growth in exports. There were 17 sectors in the high-growth category, of which 10 recorded moderate growth and 9 registered a fall in exports. Among the sectors that recorded excellent export growth were soda ash, abrasives, auto components, ball and roller bearings, electronic components, fluid power, polyester staple fiber, LCVs, utility vehicles, M&HCVs and alcoholic beverages are some which have done well on the exports front.

siliconindia