CII survey shows recovery in manufacturing growth slow but steady

The survey tracks the growth of industrial sector on a quarterly basis

More sectors registered positive manufacturing growth trends during July-September 2014 compared to the year-ago period, according to a survey by the Confederation of Indian Industry (CII) and Associations Council (ASCON).

“Although the expected growth resurgence is still elusive, industry feels that with government’s focused efforts to bolster investments in manufacturing, the growth is inevitable,” said the CII-ASCON survey, which tracks the growth of the industrial sector on a quarterly basis.

Out of 59 sectors surveyed, the number of sectors reporting “excellent” and high growth has shown an increase from 26.08 per cent in July-September, 2013, to 30.4 per cent in the same period in 2014.

At the same time, the number of sectors registering “low” and “negative” growth has dropped from 73.9 per cent in July-September 2013 to 69.48 per cent in the same quarter this year.

The information of the survey is based on feedback received from ‘sectoral industry associations’.

The survey categorises the growth range in four broad categories - excellent (above 20 per cent), good (10-20 per cent), low (0-10 per cent), and negative (less than zero per cent).

The survey notes most of the “high” and “excellent” growth has been registered by the segments of white goods, synthetic fibre, consumer non-durables such as imported oils, groundnut oil, rape seeds, along with machine tools and rubber machinery, and others.