Wednesday, September 13, 2006

Industry's Seductive Vital Statistics

Aaron Levenstein had said "Statistics are like a bikini - what they reveal is suggestive, but what they conceal is vital". One can as well say the same when he goes through the latest data of monthly Index of Industrial Production (IPP) released by the Ministry of Statistics and Programme Implementation.Let us have a quick glance at those seductive figures.
The industrial production grew at 12.4% during July, 2006 over July, 2005. The figure for April-July, 2006 is 10.6% higher than the April-July, 2005 figure. All the three sectors - Mining, Manufacturing and Electricity have clocked growth of 6.0%, 13.9%, and 8.6% respectively which collectively lifted the industrial growth to 10.6%. The consumer non-durables and durables have both recorded 18% growth. The capital goods sector which holds the benchmark for industrial growth is on a high growth track of 15.4%. In the industrial group wool, silk, man-made fibre textiles (25%), paper, basic chemicals and transport(22.4%) have individually attained double digit growth. The only industrial group which recorded negative growth was Leather and Leather & Fur products (-7.2%) and Jute and other vegetable Fibre Textiles (-5.1%).
No wonder, all roads seem to lead to India for the present. Among others, USA and Japan are giving finishing touches to their FIIs.
What then others are waiting for?

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