Power equipment exports dip 50% in last 2 yrs: FGi
Sharath Chowdary With the global economic slowdown, India’s electrical power equipment exports have declined around 50% in the past two years, Federation of Gujarat Industries (FGi) Vice President Nitin Mankad told The Dollar Business Bureau. Nitin Mankad said, “Countries from Europe, Africa and Middle East are the main export markets for Indian power equipment. Due to the slowdown in the world economy, the imports have decreased heavily in the last couple of years.” Due to the initiatives taken up by the Indian government to electrify rural areas, the country’s power equipment has registered 6.8% growth in FY 2016 over the previous fiscal year. Though the growth is currently stagnant, there is lot of scope for this industry in the next few years, he said. Explaining about ...
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 Indias 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 ...
