Monday, Dec 15, 2003
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By Our Special Correspondent
Indicating a significant growth in those sectors that showed excellent and high growth in the earlier survey for the same period, the revised assessment suggested that the bullish trend was basically due to the revival in the economy and a pick-up in the overall demand in the sectors that had registered moderate or negative growth.
Of the 133 sectors reporting production as against 134 covered in the earlier study for the same period, 16 sectors have recorded an excellent growth rate of more than 20 per cent as compared to the 9 sectors that registered this growth in the earlier survey. Thirty-five sectors have recorded a growth rate of between 10-20 per cent while 59 sectors have registered a moderate growth between 0-10 per cent.
Encouragingly, 23 sectors have registered a negative growth as compared to the 28 sectors that showed a negative growth in the earlier survey, indicating a sustained revival in the economy.
The position during the corresponding period of the previous year was that of 131 sectors, 17 recorded an excellent growth, 29 recorded high growth, and 59 registered moderate growth.
Twenty-six sectors showed a negative growth.
Besides, the production trends confirm a continuity of growth seen during the last financial year and in the first quarter of the current financial year.
Though there has been a fall in the number of sectors registering an excellent growth in the corresponding period last year, there has been an increase in the number of sectors achieving high growth.
Significantly, there has been a decline in the number of sectors registering negative growth compared to the corresponding period in the previous year.
Machine tools, medium and heavy commercial vehicles, LCVs, utility vehicles, cars, three wheelers, aluminium, fluid power components are in the excellent growth sector. Electronic components, ball and roller bearings, paints, sponge iron, soda ash are in the high growth sector, forgings, beer, and biscuits have achieved a growth of 10-20 per cent from moderate growth while aluminium, utility vehicles and cars have achieved a excellent growth from the high and moderate growth seen in the last quarter.
The survey also reveals that processed fruits and vegetables have achieved a moderate growth from negative growth during the same period last year. Mopeds, vanaspati, B/W televisions, edible oil, groundnut oil, cigarettes and tobacco are in the negative list.
Some of the sectors that have moved from negative to positive growth compared to the corresponding period last year are cars, scooters, utility vehicles, diesel engines, textile machinery, and hydroelectric power.
Fertilizers, edible oil, crude oil, toilet soap slumped to the negative category from being positive in April-March 2002-03.
Six sectors have achieved excellent sales growth, 22 sectors have registered high growth while 48 sectors have indicated low or negative sales growth. The sectors, which achieved negative sales growth, are caustic soda, crude oil, oil and gas equipment, textile machinery, electrical cables and wires etc.
The CII-ASCON survey indicates that the overall picture of exports as compared to the corresponding quarter of the previous year is rosy.
Exports are higher in many sectors and have improved their position over the last three quarters.
Further, the manufacturing sector is upbeat and the trend, which started last year, is expected to gain ground, leading to an increase in overall production, sales and exports.
The survey points out certain issues which need to be addressed, including the concerns about market demand in many sectors and the issue of dumping and its adverse impact on many sectors, such as bearings. There is a need for a special package for the power intensive export-oriented industries, it says.
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