Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of March, 2012 (Base 2004-05=100)

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of March 2012 have beenreleased by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. The GeneralIndex for the month of March 2012 stands at 186.4, which is 3.5% lower as compared to the level in the month of March 2011. The cumulative growth for the period April-March 2011-12 stands at 2.8% over the corresponding period of theprevious year.

2.     The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of March 2012 stand at 149.3, 197.1    and 158.6 respectively, with the  corresponding growth rates of  (-)1.3%,                  (-)4.4% and 2.7% as compared to March 2011 (Statement I). The cumulative growth in the three sectors during April-March, 2011-12 over the corresponding period of 2010-11 has been (-)2.0%, 2.9% and 8.2% respectively, which moved the overall growth in the General Index to 2.8%.

3.   In terms of industries, ten (10) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in themanufacturing sector have shown positive growth during the month of March 2012 as compared to the correspondingmonth of the previous year (Statement II). The industry group ‘Publishing, Printing and Reproduction of RecordedMedia’ has shown the highest growth of 52.8%, followed by 17.4% in ‘Radio, TV and Communication Equipment andApparatus’ and 13.9% in ‘Rubber and Plastic products’. On the other hand, the industry group ‘Wearing apparel; dressing and dyeing of fur’ has shown a negative growth of 54.5% followed by 42.9% in ‘Electric Machinery and apparatus n.e.c.’ and 21.9% in ‘Medical, precision & optical instruments, watches and clocks’.

4.     As per Use-based classification, the growth rates in March 2012 over March 2011 are 1.1% in Basic goods, (-) 21.3% in Capital  goods  and   (-)2.1% in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of 0.2% and 1.0% respectively, with the overall growth in Consumer goods being 0.7%.

5.     Some of the important items of capital goods showing high negative  growth during the current month and thus contributing to the low growth of the overall index for the month include ‘UPS/Inverter/Converter' [(-)78.0%], ‘Cable, Rubber insulated’ [(-)76.8%], ‘Heat Exchangers’ [(-)47.6%], ‘Sugar Machinery’ [(-)43.3%], ‘Transformers (small)’ [(-) 39.5%] and ‘Ship building & Repairs’  [(-)37.3%].  However, some important items of capital goods are also showing positive growth. These are:  ‘Cement machinery’ (55.9%), ‘Electric motors’ (44.5%), ‘Machine tools’ (43.2%) and ‘Drilling Equipment’ (42.9%).

6.     Some of the other important items showing high negative growth are: ‘Apparels’ [(-)57.2%], ‘Air Conditioners (room)’ [(-)49.4%], ‘Leather Garments’ [(-)34.1%] and ‘HR Sheets’ [(-)33.4%]. Some of the items that are showing high positive growth are ‘Pan Masala’ (665.5%), ‘Polythene Bags including Hdpe & Ldpe Bags’ (450.1%), ‘Coir Mats &Mattings’ (61.4%) and ‘Newspapers’ (55.9%).

7.     Along with the Q.E. of IIP for the month of March 2012, the indices for February 2012 have undergone the firstrevision and those for December 2011 have undergone the final revision in the light of the updated data receivedfrom the source agencies. (It may be noted that these revised indices (first revision) in respect of February 2012 shall undergo final (second) revision along with the release of IIP for the month of May 2012)

8.     Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of NationalIndustrial Classification (NIC)-2004 and by Use-based classification for the month of March 2012, along with thegrowth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed

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