Industrial growth will improve continuously, says govt
Press Trust of India / New Delhi Jul 29, 2009, 16:19 IST
India's industrial production is expected to continue its upward trend on increased economic activity propelled by huge demand in the affordable housing sector, Department of Industrial Policy and Promotion Secretary Ajay Shankar said today.
"It (IIP in June) is promising. We expect improvement. Till the numbers are out it is difficult to give estimates... I expect continuous improvement going forward," Shankar told reporters on the sidelines of a seminar organised by CII-Institute of Logistics.
Industrial growth continued to be in a positive zone with factory production expanding by 2.7 per cent in May, showing signs of recovery in the economy backed by election spending and stimulus measures.
When asked if the core sector's growth will have any positive impact on the industrial output, he said, "It is quite encouraging. It could have a positive effect. There is an increased economic activity."
Referring to the sops announced by the Finance Minister related to the interest subsidy on affordable houses, he said the segment has huge demand with a beneficial effect.
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