An impressive performance by the manufacturing sector catapulted industrial growth to 7.8 per cent during the first four months of the current financial year.
The growth during July stood at 7.9 per cent, according to the Index of Industrial Production estimates.
The quick estimates of IIP released by the Central Statistical Organisation show that the manufacturing sector grew by a whopping 8 per cent during the first four months of 2004-05 as against 6.4 per cent during the same period last fiscal.
However, the sector's growth at 7.6 per cent during July this year is lower as compared to 8 per cent in July 2003.
The cumulative industrial growth (April-July) at 7.8 per cent this fiscal was higher than the 5.9 per cent in the year-ago period.
The industrial growth during July last year had stood at 6.6 per cent.
As many as 11 of the 17 two-digit industry groups have shown positive growth during July 2004 as compared to the corresponding month of the previous year.
"Machinery and equipment, other than transport equipment, has shown the highest growth at 30.2 per cent, followed by 17.9 per cent in other manufacturing industries and 14.3 per cent in basic chemicals and chemical products (except products of petroleum and coal).
On the other hand, jute and other vegetable fibre textiles (except cotton) have shown a negative growth of 17.3 per cent followed by a decline of 11.8 per cent in wood and wood products; furniture and fixtures and 3.5 per cent in basic metal and alloy industries.
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