IIP growth for March 2010 at 13.5% v/s 15.1% in Feb 2010
For the month of March 2010, India’s Index of Industrial Production (IIP) grew at the rate of 13.5% yoy, lower than street estimates of 14.9% – 15.1%. The growth is lower when compared to 15.1% in February 2010. Sequential growth in March 2010 was at 9% as compared to 10.5% in March 2009.
Growth continued across all use based categories
Considering use based classification, growth in IIP was led by 27.4% jump in production of capital goods and 32% surge in consumer durables goods index. Growth in consumer non durable goods was however lower at 3.3%. Sub-classification of manufacturing goods shows that out of 17 categories, only 3 sub classifications with a total weightage of 5.4% (out of 79.4% for manufacturing) witnessed a decline. Production of food products registered a growth of 26.2%, highest since May 2007. Production of transport equipment and machinery equipment jumped 23% and 22.1% respectively. While rubber, plastic, petroleum and coal products segment rose by 14.6% yoy, metal products segment jumped 42.8%.
IIP growth for FY10 at 10.4%