Need to address structural issues to boost manufacturing: FICCI on IIP data
16/08/2016 14:23
The apex industry body FICCI has termed June India's industrial growth data encouraging and urged government to step up policy initiative to ensure that growth in manufacturing accelerates.
“Revival of investment demand remains an area of concern as reflected in the steep decline of capital goods sector in the first quarter” said A. Didar Singh, Secretary General, FICCI.
“Initiatives taken by the Government to address the structural issues that impact manufacturing sector growth need to continue and stepped up to ensure that growth in manufacturing accelerate,” added Singh.
Government data has suggested that India's industrial growth edged up to 2.1 per cent in June, an eight-month high, riding a pickup in electricity generation and showing some signs of acceleration ahead.
Data released by the statistics office showed an 8.3 per cent increase in electricity production in June and a 4.7 per cent gain in mining output Manufacturing, the sector with the highest weight in the Index of Industrial Production (IIP), grew a marginal 0.9 per cent in the month.
16/08/2016 14:23
“Revival of investment demand remains an area of concern as reflected in the steep decline of capital goods sector in the first quarter” said A. Didar Singh, Secretary General, FICCI.
“Initiatives taken by the Government to address the structural issues that impact manufacturing sector growth need to continue and stepped up to ensure that growth in manufacturing accelerate,” added Singh.
Government data has suggested that India's industrial growth edged up to 2.1 per cent in June, an eight-month high, riding a pickup in electricity generation and showing some signs of acceleration ahead.
Data released by the statistics office showed an 8.3 per cent increase in electricity production in June and a 4.7 per cent gain in mining output Manufacturing, the sector with the highest weight in the Index of Industrial Production (IIP), grew a marginal 0.9 per cent in the month.
