The ASCON survey carried out by the Associations Council of the Confederation of Indian Industry (CII), for April 2006 - March 2007 over April 2005 –March 2006 indicates that the Indian manufacturing sector has maintained the growth momentum built up over the last 12 months.
Out of the total of 98 sectors reporting production, 21 sectors recorded an excellent growth rate of more than 20 percent 36 sectors recorded a high growth rate of 10-20 percent, 30 sectors registered moderate growth rate of 0-10 percent while 11 sectors reported negative growth. The percentage of sectors in each category remained almost constant over the 9 months period April to Dec 2006 as well as over the last year i.e. April 05 to Mar 06.
While releasing the CII ASCON Survey for the period April 06 to Mar 07, Mr Satish Kaura, Chairman, CII Industry Council, said “we now have the results of the entire financial year before us. It is heartening that over 20% of the manufacturing sectors have remained in the Excellent growth category for two years and a large number of sectors have moved to the High growth category during this year from the moderate growth category.”
A comparison with the results released last quarter, shows some correction in the growth rate with percentage of sectors in the Excellent Growth category remaining constant and a movement of some sectors from High Growth to Moderate Growth rate, added Dr. Sarita Nagpal Head Manufacturing Services, CII.
According to the CII-ASCON survey, Sponge Iron, Switchgears, Power Cables, Circuit breakers, Electrical Cable & Wires, Auto Components, Castings, Argon, Nitrogen, Machine Tools, Textile Machinery, Welding Equipment, medium and Heavy Commercial Vehicles, LCVs, Scooters, All 3 Wheelers, Electric Fans, Microwave Ovens, were in the excellent growth category. Cement, Diesel, LLDPE, LPG, Paints, Plastics, Ball & Roller Bearings, Earth Moving & Construction Equipment and Monobloc Pumps were all in the high growth category.
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