Monday April 22, 2019
Home India India’s...

India’s factory output quickens due to boost in manufacturing

0
//
Small, medium firms were limping back when GST added to pain: Stakeholders (Note Ban Series)

download (7)

New Delhi: An uptick in manufacturing pushed up India’s factory output to 4.1 percent in April, against 2.1 percent in the month before.

Further, among the six sectoral indices, capital goods expanded by 11.1 percent, as per official data released Friday.

The factory output had grown at a slower pace of 2.1 percent in March from 5 percent in February. The factory output had stood at 3.7 percent in April, 2014.

According to the Central Statistics Office (CSO) which released the data on the Index of Industrial Production (IIP), the healthy growth in the factory output for April was attributed to an uptick in the manufacturing sector.

The manufacturing sector, which has the maximum weightage in the IIP, grew by 5.1 percent in the month under review from 2.2 percent in March.

For the other two major sub-indices of the IIP, the CSO data showed that the index for the mining sector inched by 0.6 percent against 0.9 percent in March, while that for electricity segment was down 0.5 percent in April, against a growth of 2 percent in the month before.

The three sub-indices of the IIP namely manufacturing, mining and electricity, had registered a growth of 3 percent, 1.7 percent and 11.9 percent in April, 2014 respectively.

Friday’s data also showed that among the six use-based classifications of the index, the output of capital goods expanded by 11.1 percent. The capital goods segment is a key indicator of economic activity.

While consumer non-durables, intermediate goods, consumer goods and basic goods also came out with healthy performance. These sectors grew by 4.4 percent, 3.3 percent, 3.1 percent and 2.8 percent respectively.

The consumer durables segment expanded by just 1.3 percent in April.

Overall, 16 out of the 22 industry groups in the manufacturing sector have shown positive growth during the month under review.

Segment-wise, growth was witnessed in plastic moulding machinery (266.4 percent), aluminium conductor (92 percent), cashew karnels (52.4 percent), vitamins (48.3 percent), boilers (40.3 percent), air conditioner (34.4 percent), copper products (33.4 percent), tea (33.2 percent), carbon steel (32.5 percent), block board (26.3 percent), three-wheelers (24 percent) and sugar (22.9 percent).

Segment-wise, high negative growth was reported in cigarettes (- 52.8 percent), grinding wheels (- 46.5 percent), computers (- 46.4 percent), telephone instruments including mobile phones and accessories(-43 percent), cement machinery (- 38.9 percent), tractors (- 35.2 percent), aviation turbine fuel (- 29.3 percent) and aerated waters, soft drinks (- 23.5 percent). (IANS)

Next Story

First Hindu Temple Lays Foundation Stone in Abu Dhabi

The temple will be built in phases with all the pink stones and marble being transported from Rajasthan to the UAE capital, the Khaleej Times said

0
abu dhabi, hindu temple
The temple is being built on 13.5 acres (55,000 square metres) of land gifted by Abu Dhabi Crown Prince Sheikh Mohammad Bin Zayed Al Nahyan to the Indian community. Wikimedia

The historic foundation stone-laying ceremony of the first traditional Hindu temple in Abu Dhabi was performed on Saturday in the presence of officials from India and the United Arab Emirates as well as thousands of members of the community.

The ceremony was presided over by Mahant Swami Maharaj — the spiritual leader of BAPS Swaminarayan Sanstha — the organisation building the temple, along with other priests. Indian Ambassador Navdeep Suri attended the event in the presence of over 2,500 Indians from the UAE and across the world, according to Gulf News.

Suri and BAPS Hindu Mandir committee head and community leader B.R. Shetty were among those who laid foundation stones. Some 50 priests from India were part of the ceremony, the Khaleej Times reported.

Crown Prince, abu dhabi, hindu temple
Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. Wikimedia

UAE’s Minister of Climate Change Thani Al Zoyoudi and Ahmad Bilhoul Al Falasi, Minister of State for Higher Education and Advanced Sciences, were among the attendees.  The temple will be built in phases with all the pink stones and marble being transported from Rajasthan to the UAE capital, the Khaleej Times said.

ALSO READ: Attack on Three Churches, Luxury Hotels in SriLanka on Easter

The stones of the temple will be hand-carved by artisans in India and then transported to Abu Dhabi. Once completed, this will be the first traditional Hindu stone temple in the Middle East.

The temple is being built on 13.5 acres (55,000 square metres) of land gifted by Abu Dhabi Crown Prince Sheikh Mohammad Bin Zayed Al Nahyan to the Indian community. (IANS)