The first eight months (April-November 2007) witnessed a sharp slowdown in industrial sector growth at 9.2% with the slowdown mainly on account of the manufacturing sector, which grew at 9.8% when compared with 12.5% in 2006-07.
Overall industrial production growth, including manufacturing, mining, and electricity, was slower than in the comparable period last year. The manufacturing sector grew by 9.8% (over 12.5% in 2006-07), mining grew by 4.9% (over 5.4% in the corresponding period last year), and electricity grew by 7% (over 7.2% in the same period last year).
Economic Survey 2007-08 said the industrial sector growth during the first eight months of the current fiscal suggests that buoyancy in the sector has continued - albeit with a degree of moderation.
The real challenge during the Eleventh Plan lies in removing infrastructural impediments in road, both rural and urban, rail, air and sea transport and power for sustained industrial growth, the survey added. "There is also an imperative need to facilitate the growth of labour- intensive industries, especially by reviewing labour laws and labour market regulations," it said.
Growth in manufacturing did not take place across-the-board. Industrial groups like food products, jute textiles, wood products, leather products, chemicals and chemical products and "other manufacturing" have grown at an accelerated pace. Industries like non-metallic mineral products, cotton textiles and textile products, automobiles, paper products and metal products suffered from a significant slackening in growth.
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