New Delhi, Aug 01: It has been a mixed bag of performance for industry in the first quarter. There has been an increase in the number of sectors with 10-20% growth but the elite 20% plus category has shrunk in the intervening period and there is no major turnaround story either. The data from the latest CII ASCON survey indicates that the revival in the manufacturing sector has been punctuated by slowdown in some consumer good industries. However, the survey indicates that a number of industries have graduated from 0-10% growth to the 10-20% growth level, making the manufacturing sector revival more broadbased. As many as 11 sectors recorded 20% plus growth in April-June quarter this year including cars, utility vehicles, sponge iron, fluid power components, tea and power transformer. This number is lower than the 15 sectors which were in this top growth bracket last year as the consumer durable sector recorded marked production slowdown. In fact, even the star of last year, motorcycles, barely managed to enter double-digit growth while CTVs plunged into the red and growth in ACs decelerated significantly.
The number of sectors clocking 10-20% growth stands at 40 as against just 22 last year. There was a decline in the number of sectors in the moderate growth bracket of 0-10% from 68 in the first quarter last year to 64.
Bureau Report