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India's Manufacturing GVA for Q2 FY17 grows 7.1%
01
Dec '16
The quarterly gross value added (GVA) at basic prices for the second quarter of fiscal 2016-17 for the manufacturing sector, which includes the textile manufacturing industry, grew by 7.1 per cent. It recorded a decrease compared to 9.2 per cent growth in the same quarter last year, according to the Indian ministry of statistics and programme implementation.

The private corporate sector growth, which has a share of over 70 per cent in the manufacturing sector, as estimated from available data of companies listed with BSE and NSE, is 11.9 per cent at current prices during Q2 of 2016-17, says the report released by the central statistics office (CSO).

The growth in quasi-corporate and unorganised segment, which includes individual proprietorships and partnerships, and khadi and village Industries, with a share of around 22 per cent in the manufacturing sector, has been estimated using the Index of Industrial Production (IIP) of manufacturing. IIP manufacturing registered growth rate of 0.9 per cent during Q2 of 2016-17 as compared to 4.7 per cent in Q2 of 2015-16.

The overall GDP at constant (2011-12) prices in Q2 of 2016-17 is estimated at 29.63 lakh crore, as against 27.62 lakh crore in Q2 of 2015-16, showing a growth rate of 7.3 per cent. The overall quarterly GVA at basic price at constant (2011-12) prices for Q2 of 2016-17 is estimated at 27.33 lakh crore, as against 25.52 lakh crore in Q2 of 2015-16, showing a growth rate of 7.1 per cent over the corresponding quarter of the previous year.

While the Indian GDP growth rate of 7.3 per cent in Q2 of 2016-17 is slightly higher than the growth of 7.1 per cent in the previous quarter of this fiscal, it dropped from the GDP growth of 7.6 per cent in Q2 of 2015-16. (KD)

Fibre2Fashion News Desk – India

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