"Positive industrial growth brings a ray of hope to
manufacturing sector" says CII
11/08/2014 13:43
After a prolong period of declining growth and sluggish investment, the industrial activities seem to be picking up and green shoots in manufacturing sector are finally visible. The CII Associations' Council Meeting concluded on 6th August 2014 in New Delhi released the findings of the ASCON survey conducted every quarter and presented the growth of the industrial growth for the April-June 2014 quarter. The Survey indicates that the industrial activity in the country has posted a positive growth. This is a clear shift from the growth trends witnessed during the last quarter (Jan-March 2014), which presented a dismal industrial growth. The CII ASCON Survey categorises the growth range in four broad categories, namely excellent (>20 per cent), good (10-20 per cent), low (0-10 per cent), and negative (<0 per cent) and for this quarter covered 111 industry segments. According to the survey, number of sectors showing high & excellent growth (10 per cent and above) have increased from 15 in last quarter in Jan-March 2014 to 24 (21.42 per cent of the overall industry segments surveyed) in the quarter April-June 2014. Commodities such as LEDs/LCD, tablets, air conditioners, smart phones, sugar, ground nut oil, DAP and NP/NPK have shown excellent growth i.e. above 20 percent. Commodities such as 2 wheelers, motorcycles, refrigerators, washing machines, scooter tyre, tractor tyre, rubber hose, rape seeds and mustard seeds, biscuits, domestic cargo, fertilizer, industrial valves, nylon tyre yarn have recorded a growth between 0-9 percent. The good growth of automobile industry is driven by the excise duty cuts announced during the interim budget and its extension during the recent budget of the new government. The excise duty stimulus also comes as a respite to the capital goods sector as well as the white goods sectors.
11/08/2014 13:43
After a prolong period of declining growth and sluggish investment, the industrial activities seem to be picking up and green shoots in manufacturing sector are finally visible. The CII Associations' Council Meeting concluded on 6th August 2014 in New Delhi released the findings of the ASCON survey conducted every quarter and presented the growth of the industrial growth for the April-June 2014 quarter. The Survey indicates that the industrial activity in the country has posted a positive growth. This is a clear shift from the growth trends witnessed during the last quarter (Jan-March 2014), which presented a dismal industrial growth. The CII ASCON Survey categorises the growth range in four broad categories, namely excellent (>20 per cent), good (10-20 per cent), low (0-10 per cent), and negative (<0 per cent) and for this quarter covered 111 industry segments. According to the survey, number of sectors showing high & excellent growth (10 per cent and above) have increased from 15 in last quarter in Jan-March 2014 to 24 (21.42 per cent of the overall industry segments surveyed) in the quarter April-June 2014. Commodities such as LEDs/LCD, tablets, air conditioners, smart phones, sugar, ground nut oil, DAP and NP/NPK have shown excellent growth i.e. above 20 percent. Commodities such as 2 wheelers, motorcycles, refrigerators, washing machines, scooter tyre, tractor tyre, rubber hose, rape seeds and mustard seeds, biscuits, domestic cargo, fertilizer, industrial valves, nylon tyre yarn have recorded a growth between 0-9 percent. The good growth of automobile industry is driven by the excise duty cuts announced during the interim budget and its extension during the recent budget of the new government. The excise duty stimulus also comes as a respite to the capital goods sector as well as the white goods sectors.
