Industry grows at over 15 pc in Feb

Industry grows at over 15 pc in Feb

Volkswagen's plant in Chakan, about 180 km from Mumbai. Reuters

The high growth is largely due to a strong 16 per cent growth in manufacturing and a low base of 0.2 per cent a year ago, when the Indian economy was still reeling under the impact of the global financial crisis.

Consumer durable, which was particularly hit by the global crisis, expanded 29.9 per cent in February while capital goods production rose 44.4 per cent.

Among other sectors, mining rose 12.2 per cent and electricity by 6.7 per cent.
For the first 11 months of the last fiscal, industrial output rose by 10.1 per cent against 3 per cent a year ago.

As many as 14 out of the 17 industrial groups showed positive growth in February.
This would help the Indian economy to grow by at least 7.2 per cent as estimated by the Central Statistical Organisation (CSO).

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