India's Manufacturing Sector, which has a near 80% weightage in the country's Industrial Production, has shown an impressive performance with a record growth of 14.1% in March 2007 as compared to a growth of 10.1% in March 2006, which is the highest manufacturing growth in over a decade.
The manufacturing growth rate has also doubled in 5 years from 6% in 2002-03 to a record 12.3% in 2006-07. “This augurs well for the 11th Plan, which envisages a growth of 12% for the Manufacturing Sector”, Shri Kamal Nath, Union Minister of commerce & Industry, has said.
As per the Quick Estimates of Industrial Production released by the Central Statistical Organization, India's industrial production registered a high growth of 12.9% in March 2007, as compared to 8.9% in March 2006.
Industrial growth during the financial year 2006-07 (April 2006 to March 2007) went up by 11.3% as compared to 8.2% registered in the previous year. This is the highest growth of the industrial sector since 1995-96.
The industries which have shown an excellent performance in March 2007 include 'Furniture and Fixtures' (113.9%), 'Machinery and Equipment' (47.5%), and 'Cotton Textiles' (21.2%).
Among the use-base economic sub-groups, Consumer Non-Durables have registered an impressive growth of 18.5% during March 2007 over March 2006. The Intermediate Goods and Capital Goods have also recorded a high growth of 13.3% and 13.2%, respectively.
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Press Information Bureau Government of India
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