Industrial production rises only 0.7% in Sept16 y-o-y
The Dollar Business Bureau Industrial output grew merely 0.7% in the month of September mostly due to the poor performance by mining and manufacturing sectors along with a drop in the output of capital goods. The factory production during the period April-September 2016-17 declined by 0.1% against the 4% growth in the same period a year-ago, according to the data released by Central Statistics Office (CSO) on Friday. In terms of Index of Industrial Production (IIP), factory production had recorded a growth of 3.7% in the month of September last year. The manufacturing sector, which forms 75% of the IIP index, witnessed a flat growth of 0.9% in the month of September against the 2.7% growth in the same month previous year. With regards to ...
Telangana ready to offer land cluster to Korean cos
Sharath Chowdary The Telangana government is ready to offer land parcels for various Korean companies to set up their base in the state. The government will work on creating an investment cluster to cater to the basic needs of Korean companies investing in the state, Telangana Industries Principal Secretary Arvind Kumar told The Dollar Business. He was speaking to the media while taking part in the Korean Caravan 2016 in Hyderabad on Wednesday. The Caravan was organised by the Confederation of Indian Industry (CII) in association with the Embassy of the Republic of Korea. Arvind Kumar said, “Last month, Telangana Chief Secretary Rajeev Sharma had proposed to develop an exclusive industrial park for Korean companies, during a meeting with the Union government in New ...
Industrial output growth down to 0.1% in March
Source: PTI The performance of consumer goods segment was also dismal as it recorded a meagre growth of 0.4 per cent in March compared to a contraction of 0.6 per cent a year ago. During 2014-15, the output of these goods grew at 3 per cent compared to a decline in production by 3.5 per cent. However, consumer durables performed well and recorded a growth of 8.7 per cent in March this year compared to contraction of 4.6 per cent. During the entire fiscal, the output of these goods grew by 11.2 per cent compared a decline in production by 12.6 per cent. The consumer non-durable goods output contracted by 4.4 per cent in March compared to a growth of 1.9 per cent ...
ASSOCHAM raises concern over rollback of excise sops
The Dollar Business Bureau Despite a recovery in November 2014, commercial vehicles sales in India are down over 7% y/y in April-November 2014 The Associated Chambers of Commerce & Industry of India (ASSOCHAM) has said that higher excise duty on consumer durables and auto can be disastrous for India’s exports and economy. In a statement, ASSOCHAM has expressed concern over the excise duty hike on auto and consumer durables saying that such a move is not in step with the spirit of “Make in India”. D.S. Rawat, Secretary General, ASSOCHAM, said, “Make in India’s first priority should be to revive industrial growth through lower cost of production and lower price tag for the consumer so that demand can ...
