Industrial production down for second month in a row

Ten out of the 22 industry groups in the manufacturing sector saw negative growth in December 2015 as compared to the corresponding month of the previous year The Dollar Business Bureau

Radio, TV and communication equipment and apparatus industry has registered the maximum growth of 82% during December 2015

India’s industrial output recorded a fall of 1.3% in December last year, continuing the downward trend from November when the production had declined by 3.2% year-on-year. The Index of Industrial Production (IIP) for December 2015 stands at 183.4, lower than the level of 166.6 registered during the previous month. Cumulative growth during April-December was also 3.1% , down from April-November figure of 3.9%. “Ten out of the 22 industry groups in the manufacturing sector have shown negative growth during December 2015 as compared to the corresponding month of the previous year,” Ministry of Statistics & Programme Implementation said in a statement on Saturday. Of the 22 industry groups closely monitored by the government, electrical machinery and apparatus saw the sharpest fall of -44.9% during the month over -46.5% in November, followed by publishing, printing &reproduction of recorded media (-10.7%) and tobacco products (-8.2%). On the other hand, radio, TV and communication equipment and apparatus industry registered the maximum growth of 82%, followed by office, accounting and computing machinery (17.5%) and furniture; manufacturing (16.6%). These sectors had witnessed positive growth in November as well. Major segments that registered negative growth included cable, rubber insulated (-85.2%), heat exchangers (-68.8%), cement machinery (- 60.2%), soyabean oil (-59.0%), polythene bags including HDPE & LDPE bags (-53.9%), grinding wheels (-37.4%), ayurvedic medicaments (-24.4%), boilers (-22.7%) and sponge iron (-22.5%). Industries that witnessed high positive growth included woolen carpets (184.1%), telephone instruments including mobile phone and accessories (141.1%), di-ammonium phosphate (46.8%), transformers (small) (38.8%), wood furniture (36.9%), paraxylene (32.3%), commercial vehicles (28.7%), gems and jewellery (27.1%), PVC pipes and tubes (24.6%) and polypropylene (including co-polymer) (22.2%). On the whole, top five contributors to negative trend were cable, rubber insulated, sponge iron, stainless/ alloy steel, conductor, and aluminium, and heat exchangers. Telephone instruments including mobile phone and accessories, commercial vehicles, gems and jewellery, electricity and minerals were the top five contributors to positive growth during December 2015.

February 13, 2016 | 03:30pm IST

Related Topics:

The Dollar Business Bureau - Feb 13, 2016 09:58 IST

Industrial production down for second month in a row

We like you just the way you are.