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Home arrow News arrow Business News arrow CII ASCON Survey : Manufacturing sector seeks triggers to revive growth
CII ASCON Survey : Manufacturing sector seeks triggers to revive growth Print E-mail
Written by Chandra   
Tuesday, 05 February 2008
New Delhi: 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 here today. 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.

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 of high interest rates, reduced credit availability and rupee appreciation. This year has seen a slow down based on this. According to him the survey has revealed that Automobile industry including motorcycles, three wheelers, continue to remain in the negative sales growth category like the earlier quarter.

Electricals like circuit breakers, power transformers, transmission line towers and power cables are in the excellent growth category along with the rubbers hoses and soya oil. Asbestos cement, Industrial valves, Abrasives with electrical fans were all in the high growth category,

According to the CII-ASCON survey cement, motor stamping, energy meter, capacitors, auto components, ball and roller bearing, polymer, edible oil and textile machinery has shown moderate growth while fertilizer, switchgears, and motor cycles are in the negative growth category.

According to the CII-ASCON survey, out of the 29 sectors reporting sales 4 sector recorded excellent growth, 13 sectors reported high growth, 5 sectors registered moderate growth and 7 sectors registered negative growth.

According to the CII-ASCON latest survey, 3 sectors out of 26 sectors reporting exports were in excellent growth category while 8 sectors have shown high growth. 5 sectors were in the moderate growth category whereas 10 sectors recorded a fall in exports.

Motorcycles, utility vehicles and M&HCV's are sectors performed well on the export front, registering excellent growth. High growth category includes auto components, ball and roller bearings, machine tools, Vehicle industry and industrial valves and the sectors showing negative growth are cement, ceramics, textile machinery, mopeds and scooters.

Dr. Sarita Nagpal, Deputy Director General, CII said that the Survey has shown some positive signs but still lot need to be done to put the Indian manufacturing sector on the excellent growth trajectory. CII's Manufacturing council would work with various stakeholders to facilitate Indian manufacturing sector achieve excellent growth.  

 
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