Wednesday, August 12, 2009

India observed industrial growth for the third straight month in June

For the first time since September 2008, the Industrial output in India has grown. However, heavy monsoon rain and drought caused damage to the agriculture sector. In June 2009, the industrial output of India grew by 7.8% which has been caused by the stimulus package and low interest rates by the lenders. Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, said that he had always expected the positive growth. For the third straight month, the Indian Industry has been showing positive growth which shows the country is on the road to economic recovery.

The Indian manufacturing sector which has been badly affected by the economic recession grew by 7.3% compared to 6.1% in June 2008. It registered a growth of 8% compared to 5.4% in June 2008. It also accounted for 80% in the Index of Industrial Production (IIP).

Consumer durables grew by 15.5% and capital good 11.8%; the highest and the strongest growth in the several months. Mining sector grew by 15.4% and power 8%.

Related articles:

The Hindu

No comments:

Post a Comment