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Textile machinery shows moderate growth for April-Dec
Feb '08
The ASCON survey carried by the Confederation of Indian Industry (CII) for April 2007- December 2007 over April 2006 –December 2006, which tracks the performance of the various manufacturing sectors of the industry, was released.

Although the sectors showing excellent growth has declined compared to last quarter, the number of sectors showing high growth has moderately increased for the same period.

Out of a total of 100 sectors reporting production, 15 sectors reported excellent growth rate of more than 20% and 30 sectors recorded high growth rate of 10-20 percent. 41 sectors recorded a moderate growth rate of less than 10 percent and 14 sectors recorded negative growth rate.

The percentage remained same for moderate category and percentage of sectors in negative category showed slight decline for the period April 2007 to December 2007.

The percentage of sectors in excellent category has declined while percentage of sectors in high growth category has increased.

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While releasing the CII ASCON Survey for the period April 07 to December 07, Mr Satish Kaura, Chairman, CII Industry Council, said “ It is heartening to see the slight decline in the sectors showing negative growth and modest increase in the sectors in high growth category, but still we need to be cautious and work with government to accelerate the growth rate of manufacturing.”

There is an urgent need to address the issue ofhigh interest rates, reduced credit availability and rupee appreciation. This year has seen a slow down based on this.

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