IIP at 6.4% inspiring: PHD Chamber

IIP at 6.4% inspiring: PHD Chamber

IIP at 6.4% inspiring: PHD Chamber

 

No.PR-113
October 12, 2015
New Delhi

 

IIP at 6.4% inspiring: PHD Chamber
 

Positive momentum in IIP growth is inspiring and we expect improved industrial activity in the coming months too, said Mr. Alok B Shriram, President, PHD Chamber in a press statement issued here today.
 

Decline in the prices of raw materials vis-à-vis international commodity prices and rejuvenating domestic economic activity will help industrial sector to perform better, going forward, he said.
 

The capital goods have shown a remarkable growth of 21.8% for the month of August 2015 from 10.6% in July 2015, which is an indication of revival in the investments activity, he added.
 

The growth in IIP is supported by a strong rebound in manufacturing sector as it registered a growth of 6.9% in August 2015 from 4.5% in July 2015.
 

Driven by a positive growth in Consumer goods (6.8%), Electricity (5.6%) and Consumer Durables (17%), IIP grew in the positive trajectory.
 

We believe IIP has the potential to attain high growth trajectory as the significant reform measures announced in the recent times are taking shape, he said.
 

With the recent visit of Hon’ble Prime Minister, Mr. Narendra Modi to USA and the signing of 18 MoUs between India and Germany are expected to boost sentiments of both domestic and foreign investors which will lead to creation of more jobs and higher economic growth in the coming times, said Mr. Shriram.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)