April IIP down at -0.8% but aluminium wires & extrusions clocks high growth at 26.4%

Indian Industrial production numbers released recently turned out to be a disappointment. In terms of industries, nine out of the twenty two industry groups in the manufacturing sector registered negative growth in April 2016 compared to April 2015. The sectors which bucked the trend and clocked high growth include ‘Aviation Turbine Fuel’ (102.5 per cent), ‘Telephone Instruments including Mobile Phone and Accessories’ (30.1 per cent), ‘HR Sheets’ (29.6 per cent), ‘Aerated Waters & Soft Drinks’ (28.2 per cent), ‘Petrol’ (27.7 per cent), ‘Aluminium wires & extrusions’ (26.4 per cent) and ‘Scooters and Mopeds’ (24.4 per cent).

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of April 2016 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.

The General Index for the month of April 2016 stands at 176.4, which is 0.8 per cent lower as compared to the level in the month of April 2015. The cumulative growth for the period April-March 2015-16 over the corresponding period of the previous year stands at 2.4 percent.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2016 stand at 123.6, 182.6 and 203.0 respectively, with the corresponding growth rates of 1.4 percent, (-) 3.1 percent and 14.6 percent as compared to April 2015 (Statement I). The cumulative growth in these three sectors during April-March 2015-16 over the corresponding period of 2014-15 has been 2.2 percent, 2.0 percent and 5.7 percent respectively.

Some important items that have registered high negative growth during the current month over the same month in previous year include ‘Cable, Rubber Insulated’ [(-) 96.2 per cent], ‘Aluminium foils’ [(-) 66.3 per cent], ‘Heat Exchangers’ [(-) 65.3 per cent], and ‘Plastic Machinery including Moulding Machinery’ [(-) 23.3 per cent] among others.

Some important items showing high positive growth include ‘Aviation Turbine Fuel’ (102.5 per cent), ‘Telephone Instruments including Mobile Phone and Accessories’ (30.1 per cent), ‘H R Sheets’ (29.6 per cent), ‘Aerated Waters & Soft Drinks’ (28.2 per cent), ‘Petrol’ (27.7 per cent), ‘Aluminium wires & extrusions’ (26.4 per cent) and ‘Scooters and Mopeds’ (24.4 per cent).