April IIP growth at 17.6%

Industrial output rose 17.6 per cent in April, growing in double digits for the seventh straight month, on good showing by manufacturing, particularly capital and consumer goods.

In comparison, industry grew by 1.1 per cent in April last year.

Manufacturing, which constitutes around 80 per cent of the index of industrial production (IIP), grew 19.4 per cent in April against 0.4 per cent a year ago, according to official data released today.

Within manufacturing, capital goods production rose by 72.8 per cent in April against a contraction of 5.9 per cent a year ago.

Consumer durables rose by 37 per cent against 17.6 per cent same period last year.

The other two sectors--mining and electricity--expanded by 11.4 per cent and 6 per cent in April, respectively against 3.4 per cent and 6.7 per cent in the same period last year.

According to the data, of the 17 industries, as many as 15 showed positive growth in April.

If the rising trend continues in the remaining months of this fiscal, the economy will easily meet the targeted 8.5 per cent growth rate in 2010-11, as agriculture is also expected to perform well on the likelihood of a normal monsoon.

Industrial production expanded by 17.7 per cent in December 2009.