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According to a survey done by CII- ASCON, the manufacturing sector is showing some positive signs of recovery with key sectors such as fertilizer, steel and two-wheelers returning to moderate growth from negative trends between the third and fourth quarter of 2008-09.
As per the survey, petrochemical products like LDPE and HDPE are other sectors that are witnessing a trend reversal going into a positive territory between the third and last quarter of the last fiscal.
Vanaspati moved from moderate to high growth. In the entire financial year 2008-09, nearly one-fourth of the 80 sectors covered by the survey showed high growth.
But it was only about 16 per cent of the sector which showed high growth in the last two quarters.
CII Director General Chandrajit Banerjee said, "There are some green shoots from a few sectors that have demonstrated a marginal pickup during the second half of 2008-09 when compared to the first half".
Sectors that have reported to have seen growth are asbestos, switch gears, power cables, capacitors and industrial gases, the CII-Ascon survey said.
In the month of February, industrial production contracted by 1.2 per cent as against 9.5 per cent recorded for the corresponding period previous year. Business Standard
May 10, 2009
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