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Sharma to talk to India Inc on IIP slowdown

Press Trust of India  |  New Delhi 

In the backdrop of negative growth in indutrial production, the government will hold consultations on December 19 with industry leaders.

An official release said that sharp decline in Index of Industrial Production (IIP) and particularly in the manufacturing are engaging government's attention at the highest level.

"Commerce and Industry Minister Anand Sharma will hold government-industry consultation on the issue on December 19 after his return from WTO Ministerial," it said.

Industrial output registered a negative growth of 5.1% in October, the lowest in over two years, mainly due to rising interest rate, high prices and global uncertainties.

Output of the manufacturing sector, which constitutes over 75% of the index, declined by 6% in October, compared to a growth of 12.3% in the same month of 2010.

First Published: Mon, December 12 2011. 18:32 IST