Industrial growth in India rises to 5.9 percent in Nov 2011

New Delhi, Jan 12 (ANI): After registering a revival in the manufacturing output, the industrial production in the country grew by 5.9 percent in November, 2011.

Factory output, as measured by the Index of Industrial Production (IIP), grew by 6.4 per cent in November 2010 as per data released by the government in New Delhi on Thursday.

Meanwhile, the IIP figure for October, 2011, has been revised. The latest data indicates a 4.74 per cent contraction in industrial output during the month, as against the provisional estimate of a 5.1 per cent decline in production.

Output of the manufacturing sector, which constitutes over 75 percent of the index, went up by 6.6 per cent in November, compared to a growth of 6.5 per cent in the same month of 2010.

Production of consumer goods also witnessed a 13.1 per cent upswing during the month under review, as against growth of a mere 0.7 per cent in the corresponding month of 2010.

Furthermore, consumer durables production increased by 11.2 per cent, compared to a growth of 7.2 per cent in November, 2010.

Production of capital goods also fell by 4.6 per cent in the month under review. The segment had grown by 25.7 per cent in the corresponding month of 2010.

India's economy which grew by 6.9 per cent in July-September 2011, was the slowest rate of expansion in nine quarters.

India Inc had attributed the slowdown to rising interest rates, which have led to an increase in the cost of borrowing, thus hindering fresh investment. (ANI)