IIP Data January 2011 at 3.7%

Industrial growth continued to be sluggish, improving only marginally to 3.7 per cent in January against 2.5 per cent December 2010 and 16.8 percent in January 2010.

Some economists attribute the low numbers to the high base of last year, but others do not agree. However, all point out that industrial growth is not as bad as is shown by these numbers. In January last year, industrial growth stood at 16.8 per cent.

Economists say that other pointers to the economy like exports, non-oil imports and corporate results indicate healthy industrial activities.

India's exports continued to be on the uptrend and expanded by 32.4 per cent to touch $ 20.605 billion in January 2011 from $ 15.557 billion in the same month of 2010. Non-oil imports during January 2011 were estimated at $ 20.734 billion, which was 23.8 per cent higher than non-oil imports of $ 16.754 billion in January 2010.

The slow manufacturing growth could be attributed to volatile capital goods whose production contracted 18.6 per cent in January against huge 57.9 per cent growth a year ago. In December also, capital goods output declined 13.7 per cent.

The consumer goods category continued to be robust, growing 11.3 per cent in January against a mere 0.4 per cent a year ago.

India in Top 10 manufacturers list

India was amongst the top 10 manufacturers in 2010 and together with Brazil and China accounted for a third of the world manufacturing output, up from one-fifth 10 years ago, said a United Nations report .

 
"India is listed as one of the top 10 manufacturers of the world in 2010," the international yearbook of industrial statistics 2011, published by the United Nations Industrial Development Organisation (UNIDO) said.

 
India along with other leading developing economies such as Brazil and China showed strong performance in economic growth in 2010 and the manufacturing value added of all these countries grew by over 10% last year, the agency said. 

The share of these three countries in world manufacturing output reached 32% compared to 20% 10 years ago, the report, released in Vienna on Thursday, added.

 
World manufacturing value added, or MVA, rose 5.3% in 2010, as per the agency's estimate. 

The MVA of industrialised countries was up 3.4% in 2010. 

India topped developing countries (excluding China) in production of textiles, chemical products, basic metals, general machinery and equipment, and electrical machinery. 

It overtook Brazil in the production of motor vehicles and now ranks second among developing countries after Mexico. 

However, its Asian competitors Thailand, Malaysia and the Philippines are ahead in the production of electronic goods such as computers and office equipment, radio, television and other communication equipment.

Uncertain Times - No Not again

http://www.marketwatch.com/story/asia-stocks-sink-on-mideast-tensions-oil-prices-2011-03-02?amp;siteid=rss&SiteId=djm_HAMWRSSGMktgsH