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India's IIP grows 8.2pc in October

Posted on Dec 12, 06:04PM | IBNS

India's Index of Industrial Production (IIP) grew 8.2pc in October 2012 over the corresponding month of the previous year, according to government data released on Wednesday. The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of October 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.

IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy and Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum and Natural Gas; Office of Textile Commissioner; Department of Chemicals and Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils and Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

The General Index for the month of October 2012 stands at 171.3, which is 8.2pc higher as compared to the level in the month of October 2011. The cumulative growth for the period April-October 2012-13 over the corresponding period of the previous year stands at 1.2pc .

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of October 2012 stand at 122.5, 181.9 and 160.5 respectively, with the corresponding growth rates of (-) 0.1pc , 9.6pc and 5.5pc as compared to October 2011.

The cumulative growth in the three sectors during April-October 2012-13 over the corresponding period of 2011-12 has been (-) 0.7pc , 1.0pc and 4.7pc respectively.

In terms of industries, seventeen (17) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of October 2012 as compared to the corresponding month of the previous year.

The industry group 'Electrical machinery and apparatus n.e.c.' has shown the highest growth of 27.4pc , followed by 25.9pc in 'Motor vehicles, trailers and semi-trailers' and 22.2pc in 'Coke, refined petroleum products and nuclear fuel'.

On the other hand, the industry group 'Tobacco products' has shown a negative growth of 8.7pc followed by 6.4pc in 'Office, accounting and computing machinery' and 6.1pc in 'Wood and products of wood and cork except furniture; articles of straw and plating materials'.

As per Use-based classification, the growth rates in October 2012 over October 2011 are 4.1pc in Basic goods, 7.5pc in Capital goods and 9.4pc in Intermediate goods.

The Consumer durables and Consumer non-durables have recorded growth of 16.5pc and 10.1pc respectively, with the overall growth in Consumer goods being 13.2pc .

Some of the important items showing high positive growth during the current month over the same month in previous year include 'Telephone Instruments including Mobile Phones and Accessories' (20.0pc ), 'Passenger Cars' (37.4pc ), 'Diesel, High Speed' (24.3pc ), 'Conductor, Aluminium' (54.9pc ), 'Cable, Rubber Insulated' (29.0pc ), 'Carbon Steel' (23.3pc ), 'Sugar (including sugar cubes)' (95.5pc ), 'Cotton Cloth' (21.7pc ), 'Gas, Liquefied Petroleum' (21.5pc ), 'Petrol (Motor Spirit)' (24.7pc ), 'Rice' (24.7pc ) and 'Cashew Kernels' (26.8pc ).

Some of the other important items showing high negative growth are: 'Razor blades/safety blades' [(-) 28.1pc ], 'Ship Building and Repairs' [(-) 44.1pc ], 'Grinding wheels' [(-) 37.6pc ], 'Fruit Pulp' [(-) 54.6pc ] and 'Colour TV Picture Tubes' [(-) 62.7pc ].

Along with the Q.E. of IIP for the month of October 2012, the indices for September 2012 have undergone the first revision and those for July 2012 have undergone the final revision in the light of the updated data received from the source agencies.

It may be noted that these revised indices (first revision) in respect of September 2012 shall undergo final (second) revision along with the release of IIP for the month of December 2012.