The following is the unedited transcript of the news release from Statistics of India

The Quick Estimates of Index of Industrial Production (IIP) with base 1993-94 for the month of December 2007 have been released by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation. The General Index stands at 283.8, which is 7.6% higher as compared to the level in the month of December 2006. The cumulative growth for the period April-December 2007-08 stands at 9.0% over the corresponding period of the previous year.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2007 stand at 180.6, 305.7, and 219.6 respectively, with the corresponding growth rates of 3.0%, 8.4% and 3.8% as compared to December 2006. The cumulative growth during April-December, 2007-08 over the corresponding period of 2006-07 in the three sectors have been 4.9%, 9.6% and 6.6% respectively, which moved the overall growth in the General Index to 9.0%.

In terms of industries, as many as thirteen (13) out of the seventeen (17) industry groups (as per 2-digit NIC-1987) have shown positive growth during the month of December 2007 as compared to the corresponding month of the previous year. The industry group ‘Wood and Wood Products; Furniture and Fixtures’ have shown the highest growth of 31.3%, followed by 30.6% in ‘Other Manufacturing Industries’ and 21.7% in ‘Basic Chemicals & Chemical Products (except production of Petroleum & Coal)’. On the other hand, the industry group ‘Metal Products and Parts, except machinery and Equipment’ have shown a negative growth of 23.6% followed by 2.0% in ‘Wool, Silk and Man-made Fibre Textiles’ and 1.7% in ‘Non-Metallic Mineral Products’.

As per Use-based classification, the Sectoral growth rates in December 2007 over December 2006 are 3.1% in Basic goods, 16.6% in Capital goods and 7.2% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of 2.2% and 10.6% respectively, with the overall growth in Consumer goods being 8.7%.

Along with the Quick Estimates of IIP for December 2007, the indices for November 2007 have undergone the first revision and those for September 2007 have undergone the second (final) revision in the light of the updated data received from the source agencies.

Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC)-1987 and by Use-based classification for the month of December 2007, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

Available at:

http://mospi.nic.in/mospi_iip.htm