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ECONOMY

INDUSTRIAL PERFORMANCE

Industrial growth in the country has, in terms of long run trend, remained aligned with the growth rate of gross domestic product (GDP). The long-term average annual growth of industries comprising mining, manufacturing, and electricity, during the post-reform period between 1991-2 and 2011-12, averaged 6.7 per cent as against GDP growth of 6.9 per cent. Inclusion of construction in industry raises this growth to 7.0 per cent. The share of industry, including construction, in GDP remained generally stable at around 28 per cent in the post-reform period. The share of manufacturing, which is the most dominant sector within industry, also remained in the 14-16 per cent range during this period.

Employment in the industrial sector increased from 64.6 million persons in 1999-2000 to 100.7 million persons in 2009-10. The share of industry in total employment increased from 16.2 per cent in 1999-2000 to 21.9 per cent in 2009-10. However, the increase was largely on account of expansion of employment opportunities in the construction sector, from 17.5 million in 1999-2000 to 44.2 million in 2009-10.

Industrial Performance

The index of industrial production (IIP), released each month, is the key indicator of industrial performance. The new IIP series with 2004-5 as base was released in June 2011 replacing the earlier IIP series with base 1993-94.

Since the IIP is a fixed weight and fixed base series,a dated base often has limitations in reflecting the industrial scenario. The new series not only has a more recent base, it has a larger and more representative product basket and weights that appropriately reflect the relative importance of the sectors,products, and product groups.


Index of Industrial Production (IIP) Data -November 2012

  • The base year of all India Index of Industrial Production (IIP) has been revised by the Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation from 1993-94 to 2004-05.


  • The growth in the industrial sector as per the Index of Industrial Production (IIP) data for the month of the month of November 2012 stands at 167.3, which is 0.1 per cent lower as compared to the level in the month of November 2011. The cumulative growth for the period April-November 2012-13 over the corresponding period of the previous year stands at 1.0 per cent.

  • Industry data on monthly basis indicates that in the month of November 2012, the growth for the mining, manufacturing and electricity sector achieved a growth rate of of (-) 5.5 per cent, 0.3 per cent and 2.4 per cent as compared to November 2011. The cumulative growth in the three sectors during April-November 2012-13 over the corresponding period of 2011-12 has been (-) 1.5 per cent, 1.0 per cent and 4.4 per cent respectively.


  • In terms of industries, the industry group electrical machinery and apparatus n.e.c. has shown a positive growth of 25.1 per cent followed by 15.7 per cent in luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products and 15.3 per cent in radio, TV and communication equipment and apparatus.


  • As per use-based classification, the growth rates in November 2012 over November 2011 are 1.7 per cent in Basic goods, (-) 7.7 per cent in Capital goods and (-) 1.1 per cent in Intermediate goods.The Consumer durables and Consumer non-durables have recorded growth of 1.9 per cent and 0.3 per cent respectively, with the overall growth in Consumer goods being 1.0 per cent.

  • Some of the important items showing high positive growth are: rice (21.3 per cent), cotton yarn (21.9 per cent), petroleum coke (82.4 per cent), antibiotics & its preparations (28.4 per cent), carbon steel (18.8 per cent), stainless/alloy steel (19.7 per cent), CR sheets (34.1 per cent), HR coils/ skelp (24.3 per cent), conductor, aluminium (78.7 per cent), cable, rubber insulated’ (45.3 per cent) and telephone instruments including mobile phones and accessories (18.1 per cent).

 

Index of Industrial Production (IIP) Growth for the month of November 2012 :

Index of Industrial production-Sectoral
(Base : 2004-05=100)
(all figures are in per cent)
 
IIP
Mining
Manufacturing
Electricity
Weight (in per cent)
100.00
14.16
75.53
10.32
Month        
November 2012
-5.5
0.3
2.4
-0.1
Apr-Nov 2012-13
-1.5
1.0
4.4
1.0
November 2011
-3.5
6.6
14.6
6
Apr-Nov 2011-12
-2.4
4.2
9.5
3.8

Source: Central Statistics Office (CSO)

 

Index of Industrial production-Use based classification
(Base : 2004-05=100)
(all figures are in per cent)
 
Basic Goods
Capital Goods
Intermediate Goods
Consumer Goods
Consumer Durables
Consumer Non-Durables
Weight (in per cent)
45.68
8.83
15.69
29.81
8.46
21.35
Month
   
  
  
   
  
  
November 2012
1.7
-7.7
-1.1
1.0
1.9
0.3
Apr-Nov 2012-13
2.8
-11.1
1.8
3.8
5.2
2.5
November 2011
6.5
-4.7
1.3
12.8
10.4
15.0
Apr-Nov 2011-12
6.3
-1.0
-0.6
5.0
5.2
4.9

Source: Central Statistical Organisation (CSO)

Eight Core Industries-November 2012

The Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP). The combined Index was 144.9 in November 2012 with a growth rate of 1.8 per cent compared to their 7.8 per cent growth in November 2011. The decline in growth in November, 2012 was on account of negative growth witnessed in the production of Coal, Natural Gas and Cement and deceleration in growth rates of Electricity, Steel and Petroleum Refinery Products.

During April-November 2012-13 , the cumulative growth rate of the Core industries was 3.5 per cent as against their growth at 4.8 per cent during the corresponding period in 2011-12.

Coal

Coal production (weight: 4.38 per cent) registered a growth of (-) 4.4 per cent in November 2012 compared to its growth at 4.9 per cent in November 2011. In cumulative terms, Coal production recorded a growth of 6.7 per cent during April- November 2012-13 compared to its negative growth at (-) 4.0 per cent during the same period of 2011-12.

Crude Oil

Crude Oil production (weight: 5.22 per cent) registered a growth of 0.8 per cent in November 2012 compared to its (-) 5.7 per cent growth in November 2011. Cumulatively, Crude Oil production recorded a negative growth of (-) 0.5 per cent during April- November 2012-13 compared to its growth at 2.9 per cent during the same period of 2011-12.

Natural Gas

The growth rate of Natural Gas production (weight: 1.71 per cent) was negative both in November, 2012 at (-) 15.2 per cent and in November 2011 at (-) 10.1 per cent. Cumulatively also, Natural Gas production registered a negative growth of (-) 13.1 per cent during April- November 2012-13 and (-) 8.5 per cent during the same period of 2011-12.

Petroleum Refinery Products (0.93 per cent of Crude Throughput)*

Petroleum refinery production (weight: 5.94 per cent) had a growth of 6.6 per cent in November 2012 compared to its growth at 11.2 per cent in November 2011. In cumulative terms, Petroleum refinery production registered a growth of 7.2 per cent during April- November 2012-13 compared to its 4.4 per cent growth during the same period of 2011-12.

Fertilizers

Fertilizer production (weight: 1.25 per cent) registered a growth of 5.0 per cent in November 2012 against its negative growth at (-) 6.7 per cent in November 2011. Cumulatively, Fertilizer production registered a negative growth of (-) 3.3 per cent during April- November 2012-13 compared to (-) 0.7 per cent growth during the same period of 2011-12.

Steel (Alloy + Non-Alloy)

Steel production (weight: 6.68 per cent) had a growth rate of 6.0 per cent in November 2012 against its 10.5 per cent growth in November 2011. Cumulatively, Steel production registered 3.4 per cent growth during April- November 2012-13 compared to its 8.9 per cent growth during the same period of 2011-12.

Cement

Cement production (weight: 2.41 per cent) registered a negative growth at (-) 0.2 per cent in November 2012 against its 17.0 per cent growth in November 2011. The cumulative growth of Cement Production was 6.7 per cent during April- November 2012-13 compared to its 4.8 per cent growth during the same period of 2011-12.

Electricity

Electricity generation (weight: 10.32 per cent) had a 2.3 per cent growth in November 2012 compared to its 14.4 per cent growth in November 2011. The cumulative growth of Electricity generation was 4.6 per cent during April- November 2012-13 compared to its 9.4 per cent growth during the same period of 2011-12.

* RPL (SEZ) with refining capacity 29MMT was commissioned on 25.12.2008 but crude throughput not reported by the refinery and not included in production for entire period.

Note: Data are provisional. Revision has been made based on revised data obtained.


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