Core industries register 4.4% IIP growth in March '18

The Centre on Friday announced that industrial growth slowed down to 4.4 percent in March this year.

As per data released by the Ministry of Statistics and Programme Implementation, the general index for the month of March stood at 139.0, which is 4.4 percent higher compared to March last year. Meanwhile, cumulative growth for the period April, 2017-March 2018 stood at 4.3 percent over the corresponding period of the previous year.

The Index of Industrial Production (IIP) for the mining, manufacturing and electricity sectors for the month of March 2018 stood at 131.3, 138.6 and 156.7 respectively, with the corresponding growth rates of 2.8 percent, 4.4 percent and 5.9 percent as compared to March 2017. Cumulative growth in these three sectors from April last year to March this year over the corresponding period of 2016-17 was 2.3 percent, 4.5 percent, and 5.4 percent respectively.

In terms of industries, eleven out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of March 2018 as compared to the corresponding month of the previous year. The industry group 'Manufacture of furniture' showed the highest positive growth of 41.5 percent, followed by 20.6 percent in 'Manufacture of food products' and 17.2 percent in 'Manufacture of motor vehicles, trailers, and semi-trailers'.

On the other hand, the industry group 'Other manufacturing' showed the highest negative growth of (-) 30.7 percent followed by (-) 20.6 percent in 'Manufacture of tobacco products' and (-) 18.6 percent in 'Manufacture of wearing apparel'.

As per use-based classification, the growth rates in March 2018 over March 2017 are 2.9 percent in Primary goods, (-) 1.8 percent in Capital goods, 2.1 percent in Intermediate goods and 8.8 percent in Infrastructure/ Construction Goods, while consumer durables and consumer non-durables recorded growth of 2.9 percent and 10.9 percent respectively.

Among those groups that registered high positive growth during the current month over the same month in the previous year are 'Stainless steel utensils' (95.5 percent), 'Sugar' (78.2 percent) and 'Bars and Rods of Alloy and Stainless Steel' (44 percent).

On the other hand, categories that registered high negative growth include 'Jewellery of gold (studded with stones or not)' [(-) 66.5%], 'Printing machinery' [(-) 47.6 percent], 'Other tobacco products' [(-) 40.6 percent] and 'Readymade Garments, knitted' [(-) 30.2 percent].