GET Stock QuotesNews18 APP
News18 English
»
1-min read

IIP Data: India Inc Says Stronger Economic Growth on Cards

Manufacturing sector, which constitutes 77.63 per cent of the IIP, recorded an impressive growth of 10.2 per cent in November as compared to 4 per cent a year ago.

PTI

Updated:January 13, 2018, 8:45 AM IST
facebookTwittergoogleskypewhatsapp
IIP Data: India Inc Says Stronger Economic Growth on Cards
Image for representation only.
New Delhi: Cheering robust IIP numbers for November, India Inc on Friday said the factory output data reflects higher growth rates in investment related categories such as capital goods and infrastructure.

Further, industry experts are expecting the factory output growth to become more stronger in the coming quarters.

Industrial production growth zoomed to a 17-month high of 8.4 per cent in November 2017.

The industrial output, measured in terms of Index of Industrial Production (IIP), grew 5.1 per cent in November 2016, as per data released today by the Central Statistics Office.

"This recovery is especially heartening since it reflects higher growth rates in investment related categories such as capital goods and infrastructure/ construction goods. These are also corroborated by other indicators such as the strong performance of the commercial vehicles sector and the pick in the growth rate of bank credit," CII Director General Chandrajit Banerjee said.

Manufacturing sector, which constitutes 77.63 per cent of the IIP, recorded an impressive growth of 10.2 per cent in November as compared to 4 per cent a year ago.

PHD Chamber President Anil Khaitan said that as the teething problems of GST are almost over, the growth in industrial output has come with a strong rebound and it looks forward to the growth becoming stronger in the coming quarters.

Assocham highlighted the need for creating conducive environment for investments and said it is extremely important for policy makers to create a stable economic environment in India through the upcoming budget.

Also Watch

| Edited by: Ananya Chakraborty
Read full article
Next Story
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
TCS 3,470.25 +84.60 +2.50
Bharti Airtel 419.85 +13.60 +3.35
ICICI Prudentia 438.35 +20.20 +4.83
NIIT Tech 1,087.50 +91.30 +9.16
Infosys 1,160.35 +5.85 +0.51
Company Price Change %Gain
Hathway Cable 32.45 -3.05 -8.59
TCS 3,467.90 +82.25 +2.43
Indiabulls Vent 470.40 +41.70 +9.73
M&M Financial 507.25 -3.20 -0.63
Gati 121.20 +0.50 +0.41
Top Gainers
Company Price Change %Gain
Bharti Airtel 419.85 +13.60 +3.35
TCS 3,470.25 +84.60 +2.50
M&M 853.85 +15.30 +1.82
HCL Tech 1,068.80 +6.85 +0.65
BPCL 385.80 +2.10 +0.55
Company Price Change %Gain
Bharti Airtel 419.80 +13.70 +3.37
TCS 3,467.90 +82.25 +2.43
M&M 854.25 +15.80 +1.88
Infosys 1,160.90 +7.00 +0.61
Power Grid Corp 207.20 +1.20 +0.58
Top Losers
Company Price Change %Gain
GAIL 327.55 -10.20 -3.02
HPCL 298.05 -7.95 -2.60
Vedanta 290.20 -7.20 -2.42
Hindalco 232.05 -4.70 -1.99
Tata Steel 586.20 -11.35 -1.90
Company Price Change %Gain
Tata Steel 586.20 -12.05 -2.01
ICICI Bank 278.90 -5.30 -1.86
ONGC 179.55 -3.05 -1.67
Dr Reddys Labs 2,124.75 -31.50 -1.46
IndusInd Bank 1,849.55 -27.10 -1.44