Thaindian News

New Delhi, Dec 26 (IANS) India’s core industries grew 6.8 percent in November, compared to just 0.3 percent in October, raising hopes of a rebound in overall factory output, official data showed Monday.

In November 2010, the core industries growth was 3.7 percent.

Good growth in cement, electricity and refinery products led the rebound in eight core infrastructure sector, which has 37.90 percent weightage in overall index of industrial production (IIP).

Factory output, based on the IIP, registered a negative growth of 5.1 percent in October, the lowest in four years. In October, the 0.3 percent growth in core industrial output was the slowest in five years.

During April-November period, the cumulative growth rate of the core industries was 4.6 percent as against 5.6 percent during the corresponding period of the previous year, according to commerce and industry ministry data.

Cement production registered a growth of 16.6 percent in November 2011 against negative growth of 4.3 percent during the corresponding month of the previous year. In April-November period, cement production grew by 4.3 percent.

Electricity generation, which has 10.32 percent weight in IIP, grew 14.1 percent in the month under review as compared to 3.5 percent during the corresponding month of 2010.

While petroleum refinery production grew by 11.2 percent, coal production registered a growth of 4.9 percent and steel production by 5.1 percent.

However, fertilizer production contracted by 2.4 percent, crude oil production fell by 5.6 percent, and natural gas output fell by 10.1 percent.