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Indian Manufacturing Showing No Signs of Slowdown Print E-mail
Written by Arjun   
Monday, 06 August 2007

CII ASCON SURVEY

 Machine Tools production and exports, both registered a high growth rate at 15%

 New Delhi : Confederation of Indian Industry (CII) industry survey for April 2007- June 2007 over April 2006 – June 2006, which tracks the performance of the various sectors of the industry was released here. With most sectors recording a growth of over 10%, the results of the survey set to rest any fears of a slow down in Indian manufacturing.
 

 Out of a total of 101 sectors reporting production, 23 sectors recorded an excellent growth rate of more than 20 percent 27 sectors recorded a high growth rate of 10-20 percent, 36 sectors registered moderate growth rate of 0-10 percent while 14 sectors reported negative growth. The percentage of sectors in each category remained almost constant over the period April 2006 to March 2007, which reaffirms that Indian manufacturing is on track.

 While releasing the CII ASCON Survey for the period April 07 to June 07, Mr Satish Kaura, Chairman, CII Industry Council, said “it is good to see that 50% of the manufacturing sectors have shown above moderate growth despite various pressures in terms of the appreciating rupee and hardening interest rates”

 Dr. Sarita Nagpal, Deputy Director General, CII while agreeing that the manufacturing sector seemed on track, added a word of caution pointing to the fact that some sectors had moved from the high growth to the moderate growth sector as compared to full last year performance of the industry. “These could be weak signals of a slow down and we must not ignore them”, she added.

 According to the CII-ASCON survey Cold Rolled Steel Strips, Pig Iron, Textile Machinery, Industrial Gases, Electric Fans, Microwave Ovens to name few are in the excellent growth category. One of the new entrants to the excellent growth category is Electric Two Wheelers in the auto sector showing growth of over 100%. Energy meters, Abrasives, Industrial valves, Machine Tools, water equipment, air conditioners, and vanaspati were all in the high growth category.

 According to the CII-ASCON survey, out of the 27 sectors reporting sales, 6 sectors registered excellent growth, 11 sectors registered high growth, 4 sectors reported moderate growth and 4 sector recorded negative growth.

 All Three Wheelers and Motor Cycles are sectors that have done well on the export front, registering excellent growth. Those in the high growth category include Ball & Roller Bearings, Forgings, Industrial Valves, Machine Tools, Water Equipment and Electric Fans.

 According to Mr. Kaura the survey has revealed that Cold Rolled Steel Strips, Sponge Iron, Textile Machinery, Water Equipment, Tractors, Electric Fans, and Electric Two Wheelers are some sectors in the excellent sales growth category. While the high growth category included Ceramics, Forgings, Industrial Valves, scooters and cars etc.

 According to the CII-ASCON latest survey 4 sectors have shown excellent growth in exports. There were 8 sectors in the high growth category, 5 sectors recorded moderate growth, while 9 sectors registered a fall in exports.
 
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