Industrial production appears to be booming, with growth in September 2003 up by 6.5 per cent over the same month last year, and during the April-September period by 5.8 per cent, as per quick estimates of the index of industrial production released on Wednesday.
During September, indices for industrial production in almost all the sectors showed growth, singalling an upturn in the economy.
Thus, mining, manufacturing and electricity sectors grew 4.4 per cent, 6.8 and 5 per cent, respectively in September this year over the same month last year. Cumulative growths during the April-September period this year over 2002 in these sectors were recorded at 4.2 per cent, 6.3 and 2.9 per cent, respectively.
Again, in the two-digit industry groups, 11 of the 17 such groups showed growth during September this year over the same month in 2002 with jute and other vegetable fibre textiles (except cotton) showing negative growth of 10.7 per cent during the period under review.
Also, cotton textiles and other manufacturing industries posted negative growth of 7.8 per cent and 2.1 per cent, respectively.