Industrial production up 15.1 per cent in Feb | business | Hindustan Times
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Industrial production up 15.1 per cent in Feb

business Updated: Apr 12, 2010 21:29 IST
HT Correspondent
HT Correspondent
Hindustan Times
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For the third month in a row, India’s industrial growth — measured by the index of industrial production (IIP) — registered a growth rate of over 15 per cent in February.

It, however, was marginally lower than 16 per cent and 17.6 per cent registered in January and December respectively.

The high growth in IIP for the month of February is due to a strong 16 per cent growth in manufacturing besides a low base of 0.2 per cent posted in the corresponding period of the previous year, at a time when the economy was hit the impact of the global financial crisis.

Rupa Rege Nitsure, chief economist, Bank Of Baroda, told Reuters, “They are slightly below market expectations and reflective of the fact that high levels of inflation have started affecting the purchasing power of people.”