Confederation of Indian Industry (CII) applauded the industrial growth achieved during the year 2006-07 as revealed by CSO's quick estimates.
The cumulative growth of 11.5% during the year 2006-07 driven by 12.5 % growth in Manufacturing and 11.5% growth in electricity has been one of the major contributors to the 9.4% GDP growth, which is beyond expectations.
While Industrial Production in April 2007 has generally shown an upward trend and has registered a growth higher than the corresponding period last year, the decline in growth of consumer durables, basic goods and capital goods is a slight cause for concern.
CII suspects that slow down in these sectors may be due to the recent introduction of the monetary tightening measures. However CII applauded the increase in growth rates of both manufacturing and electricity, but at the same time cautioned that electricity generation needed to be stepped up further, if we have to meet the target of Power to All by 2012.
Confederation of Indian Industry
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