Industry posts 11 pc growth in Feb

NEW DELHI, APR 11: Powered by robust growth in manufacturing and electricity sectors, the Indian Industry posted an impressive 11 per cent growth in February. The healthy growth in industrial production during the month has taken the overall performance during the year so far (April-February) to 7.9 per cent compared to 7.1 per cent in the first 10 months of the year, according to the latest index of industrial production (IIP) released by the Central Statistical Organisation today.

BB Bhattacharya, professor, Institute of Economic Growth, said "It is on predicted lines. There is now recovery in the industry… We are back to the high growth of about nine per cent… in March it (growth) is usually more than February."

According to Saumitra Chaudhuri, economic adviser, ICRA, "I am not very surprised with the numbers. The trend in manufacturing, which accounts for 79.4 percent of IIP, has been increasing since October. Any change in manufacturing reflects on the IIP."

Said Vasan Shridharan, economist, Standard Chartered Bank: "Robust consumption and investment demand conditions continue to power India’s manufacturing output ahead. This is likely to be sustained in the first half of 2000/01 (April-March). It (the strong growth) is unlikely to fuel inflation."