Latest IIP data not worrisome, says Nirmala Sitharaman

Says there are definite signs of improvement

The latest Index of Industrial Production data, which logged a five-month low growth rate for August, was not worrisome as some other sectors were showing signs of expansion, Minister of State for Commerce and Industry Nirmala Sitharaman said on Saturday.

"The new government in the last few months has (taken) every possible measure to revive the confidence like ease of doing business and better regulations," Sitharaman told reporters here. She said that had it not been the case, global rating agencies like Standard & Poor's would not have given a stable outlook on India.

"There are definite signs of improvement. The automobile and some core sectors are doing well," the minister said, adding that the IIP data would have no impact on the second quarter of GDP growth.

Industrial production growth as measured by IIP slowed down to 5-month low of 0.4 per cent in August mainly due to contraction in manufacturing output and lower offtake of consumer goods.