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India : Textiles sector records over 35% growth in May |
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2005-7-14
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The Quick Estimates of Index of Industrial Production (Base 1993-94) for May 2005, just released by the Central Statistical Organisation, Ministry of Statistics and Programme Implementation, says that Textile products ( including wearing apparel ) registered the highest growth of 35.1 per cent.
This is followed by 15.9 per cent in Machinery and equipment (other than transport equipment) and 14.6 per cent in Basic chemicals and chemical products (except products of Petroleum and Coal).
But wool, silk and man made fibre textiles slowed down with a negative growth of 6.6 per cent, followed by a decline of 2.7 per cent in wood and wood products, furniture and fixtures as well as, jute and other fibre textiles (except cotton).
However, as many as 14 of the 17 two-digit industry groups (classification level) showed positive trend in growth during May compared to the same month previous year.
The CSO says consumer goods also posted a significant growth of 18.9 per cent during May, compared with 13.1 per cent in April 2005. As per use-based classification, the growth in May, compared to the same month last year, is 8.1 per cent in Basic goods, 19.2 in Capital goods and 2.3 per cent in Intermediate goods. While the consumer durables registered a growth of 19.5 per cent, the consumer non-durables 18.7 per cent.
Sectoral-wise, the growth in the Mining Sector was 3.7 per cent in May compared to 3.1 per cent in April, Manufacturing 11.5 per cent compared to 10 per cent, while Electricity was 10.6 per cent against 3 per cent in previous month.
Alongwith the Quick Estimates of Index of Industrial Production for May , the indices for April 2005 have undergone the first revision, while those for February 2005 the final revision, in the light of the updated data received from Source Agencies. However, there is no significant revision in the indices for February and April. |
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