India’s February industrial output up 5 percent

New Delhi : Industrial activity in the country, measured in terms of the Index of Industrial Production (IIP), registered a 5 percent growth during February 2015 as compared to a 2.6 percent rise in the previous month.

The IIP grew by 1.7 percent during December 2014, while it increased by 3.8 percent in November 2014.

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The IIP had declined by 2 percent in February 2014.

The cumulative growth for April 2014-February 2015 stood at 2.8 percent while the figure for the corresponding period of the previous fiscal stood at a negative 0.1 percent.

The gain in the month under review came mainly due to the higher output of manufacturing and mining sectors.

In February, the manufacturing sector grew by 5.2 percent from a decline of 3.9 percent in the corresponding month of 2014.

The mining sector grew by 2.5 percent from an increase of 2.3 percent in the corresponding month of last year.

However, electricity sector rose 5.9 percent against the 11.5 percent increase in February 2014.

Cumulatively, the manufacturing sector grew by 2.2 percent in April 2014-February 2015 from a decline of 0.7 percent in the corresponding period of 2013-14.

The mining sector grew cumulatively by 1.5 percent and electricity sector rose 9.1 percent.

Manufacturing of basic, capital, intermediate, consumer and consumer non-durables goods showed growth during the month under review. Production of basic goods grew by 5 percent, while capital goods was up 8.8 percent, intermediate goods rose by 1.1 percent.

Consumer goods production growth in the month under review was up 5.2 percent, while consumer non-durables goods zoomed by 10.7 percent.

However, consumer durables goods production declined by 3.4 percent.

Overall, 15 out of the 22 industry groups in the manufacturing sector have shown positive growth during the month under review.

Segment-wise, growth was witnessed in air conditioners (27.4 percent), carbon steel (27.4 percent), aluminium conductors (27.9 percent), PVC pipes and tubes (44.9 percent)apparels (52.5 percent), stainless steel (57 percent), cable rubber insulated (63.5 percent), polythene bags (131.6 percent) and leather garments (151.8 percent).

Segment-wise, high negative growth was reported in CR sheets (- 21.7 percent), generators (- 28.7 percent), boilers (- 28.8 percent), tractors (- 29.8 percent), tractors (- 42.6 percent), computers (-51.5 percent), and telephone instruments including mobile phones and accessories(-51.5 percent) and electric sheets (-53.9 percent).