Led by strong recovery in the manufacturing sector, industry grew at 7.9 per cent in the first six months of the current fiscal compared to 6.2 per cent in the same period last year.
According to quick estimates of the Index of Industrial Production, the manufacturing sector, representing nearly three-fourths of the weightage of IIP, grew by a whopping 8.2 per cent during April-September 2004 over 6.7 per cent in the same period last fiscal.
In September this year, the industrial sector registered a growth of 7.7 per cent as against 7.5 per cent in the year-ago month.
In September 2004, growth in manufacturing sector, however, remained stagnant at eight per cent, the same as in September 2003.
Besides the manufacturing sector, other areas like mining and electricity generation also witnessed an upbeat trend in the growth pattern during the first half of 2003-04 as well as September.
Mining sector grew at 4.9 per cent in April-September 2004-05 over 4.2 per cent in the same period last year. In September, the sector registered a marginal decline in growth at four per cent compared to 4.5 per cent a year ago.
Electricity sector registered a 7.7 per cent growth in the first half of the current fiscal as against only three per cent last year. In September, the sector grew by 7.6 per cent compared to six per cent.
Except intermediate goods, the other five categories under the use-based classification posted an increase, according to the IIP figures.
Consumer durables registered the highest 20.3 per cent growth in September 2004 as against 11.3 per cent in the year ago month, followed by capital goods at 15.1 per cent from 13.8 per cent, consumer goods at 10.4 per cent over 7.5 per cent, consumer non-durables at 6.8 per cent over six per cent, basic goods at 6.7 per cent against 5.2 per cent.
However, the intermediate goods witnessed a sharp decline at 3.4 per cent in the review month from eight per cent in September 2003.
During the first six months of this fiscal, the index recorded an upward trend for all categories except consumer non-durables.
Growth in consumer non-durables dipped to 6.7 per cent in April-September 2004 against 8.9 per cent during the year-ago period.
The consumer durables segment clocked the highest 15.2 per cent growth during the first six months of 2004-05 as against 6.7 per cent in the same period last year.
Consumer durables segment was followed by capital goods at 14.5 per cent as against 10 per cent growth in the first six months of 2003-04.
Consumer goods witnessed a marginal increase at 8.8 per cent as compared to 8.3 per cent growth in April-Sep 2003.
Growth for intermediate goods also increased to 7.7 per cent from five per cent, while basic goods clocked 5.2 per cent against 4.3 per cent during the year-ago period.