India's industrial output up

Tuesday, 12 June 2007, 07:00 Hrs
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New Delhi: India's industrial output was up 13.6 percent in April over the like month of last year, thanks to a robust 15.1 percent expansion shown by the manufacturing sub-sector, according to official data released Tuesday.

While the output of mining sub-sector was up 3.4 percent during the month under review, that of electricity expanded by 8.7 percent, as per the quick estimates of the Index of Industrial Production of the Central Statistical Organisation.

"The revised annual growth for the period April-March 2006-07 now stands at 11.5 percent over the corresponding period of the pervious year," the organisation said in a statement.

The revised growth in the three sub-sectors during 2006-07 was 5.3 percent for mining, 12.5 percent for manufacturing and 7.2 for electricity, the statistics showed.

As many as 16 out of the 17 industry group showed positive growth during April, with wood, furniture and fixtures registering the highest growth of 92.2 percent, followed by 55 percent for food products.

Reacting to the data released Tuesday, the Associated Chambers of Commerce and Industry of India (Assocham) said the interest rate hike and double excise tax on some items had restricted the growth to six key sectors of Indian industry.

"But increased investments, particularly by private equity holders as well as venture capitalists, in the recent months will show their impact in next few months," said chamber president Venugopal N. Dhoot.
Source: IANS
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