Continuous positive growth in IIP indicates strong recovery in the coming times: PHD Chamber

Continuous positive growth in IIP indicates strong recovery in the coming times: PHD Chamber

Continuous positive growth in IIP indicates strong recovery in the coming times: PHD Chamber

No.PR-85
August 12, 2014
New Delhi

 

Continuous positive growth in IIP indicates strong recovery in the coming times: PHD Chamber

Positive growth in the IIP during the last 3 months in a row is encouraging and indicates strong recovery in the coming times, said Mr. Sharad Jaipuria, President of PHD Chamber, in a press statement issued today.

IIP grew at 3.4% in the month of June 2014 and registered a growth rate of 4% in the first quarter (April-June) of FY 2014-15.

Signs of recovery in IIP are visible and we look forward to a higher industry growth going forward, vis-à-vis forthcoming festive season, said Mr. Jaipuria.

The recent measures undertaken by the new government in terms of facilitation to manufacturing sector, focus on improving policies and procedures will go a long way to strengthen industry sector and overall growth of the economy, he said.

The growth of capital goods at around 14% is inspiring and indicate a reversal of sluggish investment cycle in the positive growth trajectory, he added.

However, growth of consumer goods is still in the negative trajectory which indicates higher interest rate regime in the economy.

We believe RBI should soften monetary policy stance to revive the consumer demand conditions and to refuel the economic growth trajectory, said Mr. Jaipuria.

ENDS
Koteshwar Prasad Dobhal
Consultant (PR)