India Inc buoyant in festive season

By admin November 30, 2009 9:07 am IST

As a result of the rise in the country’s fastest industrial output in the past 22 months, India Inc can expect a boom this festive season. There has been an increasing demand for cars, television and other goods due to which industrial output rose to 10.4 per cent in August of the current financial year, which was just 1.3 per cent during the corresponding of the last financial year.

The manufacturing sector registered 10.2 per cent growth in August 2009, as compared to August 2008. During the same period, mining and power generation segments recorded 12.9 per cent and 10.6 per cent growth respectively. The sales of consumer durables also rose to 22.3 per cent in September this year. According to economists, the high growth is due to increase in manufacturing activities, which weighs 80 per cent in the index of industrial production.