Industry grows by 9.1% in Sept

Industrial growth continued its upward march with factory production rising 9.1 per cent in September against 6 per cent in the same period last year.

This takes total growth to 6.5 per cent during the first half of this fiscal against five per cent a year ago, official data showed today.

All the three sectors--manufacturing, mining and electricity--showed growth in September over the year-ago period.

Output in manufacturing was up by 9.3 per cent in September against 6.2 per cent in the same month last year and that of mining was up by 8.6 per cent compared to 5.8 per cent. Electricity generation rose 7.9 per cent over 4.4 per cent in the comparable period..

Although September figures are slightly lower from August's over 10 per cent growth, analysts said industry is on the mend and it is showing a steady trend.

Consumer durables, which bore the brunt of the meltdown from October onwards, grew by 22.2 per cent in September even on high base of 14.7 per cent a year ago.

Manufacturing output was up 9.3 per cent in September against 6.2 per cent in the same month last year and that of mining was up by 8.6 per cent compared to 5.8 per cent. Electricity generation rose by 7.9 per cent over 4.4 per cent in the comparable period..

Consumer durables, which bore the brunt of the meltdown from October 2008 onwards, grew 22.2 per cent in September even on a high base of 14.7 per cent a year ago.

Intermediate goods production also grew by 10.8 per cent against a decline of 2.5 per cent in September last year and basic goods was up 5.7 per cent against five per cent.

Capital goods also rose by 12.8 per cent on high base of 20.8 per cent.

However, consumer non-durables grew by just 2.6 per cent against 4.8 per cent a year ago.

Twelve out of 17 industries showed a positive growth. However, processed food products declined by 10.2 per cent, beverages by 3.8 per cent jute textiles by 15.3 per cent paper and paper products by 2.2 per cent and metal products by 7.6 per cent.

September is crucial because, it was in this month last year that collapse of US financial services icon Lehman Brothers crippled economies worldwide. Industrial production in India contracted for the first time in 16 years in October last year, though figures were later revised up.

On a monthly basis, however, industrial growth in September is down from revised figures of 10.95 per cent in August.