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Industrial growth - a harbinger of India's economic recovery
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Bikky Khosla | 13 Oct, 2009
A couple of days before Diwali, the festival of lights, the economy has lit up brightly with industrial production growing by 10.4 percent, the highest in the past 22 months.
And who had thought we could be recovering so fast? But we are! With the manufacturing, mining and electricity sectors recording double digit growth, the numbers for the July-September period could be even stronger. The figure is indeed a harbinger for better times ahead and it indicates a slow but steady pick up in demand which is likely to gain considerable momentum in the months to come.
The growth in industrial production has given strong signals that fresh investments are picking up and the industry is on the rebound.
Having said that, the economy and more importantly the industry is not out of the doldrums. The situation now calls for measures to give a fillip to the industrial sector by providing an impetus to growth. Issues like availability of raw materials and credit at reasonable rates need to be prioritized to boost demand and reduce production costs in the industry.
I strongly believe that the government needs to continue with the stimulus packages and also come out with certain reforms in the infrastructure sector and also work towards skill development to spur growth in the industry.
Above these, I feel the Reserve Bank of India needs to continue with the current fiscal and monetary measures which has been given to industry to recover.
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GROWTH - v/s my obliated recovery msg of Oct 14th posted by me.
Vinay Joshi | Wed Oct 21 22:43:38 2009
Dear Mr.Bikky Khosla,
My msg posted on Oct 21, captioned subject, inadvertently mispelled your surname.
Kindly excuse the typo, abrupt it was, should read as Mr.Khosla, Mr.Bikky Khosla.
Apologise, please excuse me.
Regards,
GROWTH - v/s my obliated recovery msg of Oct 14th posted by me.
Vinay Joshi | Wed Oct 21 21:38:12 2009
Dear Mr.Bikky Hkosla,
I refer to your biz news post of 21st,'more feedback!?
I question you on what substance you deemed fit to highlight a reply of Mr.Geoff Jordan, Australia, which was replied by me as under :
Wed Oct 14 18:47:40 2009
Dear Mr.Geoff Jordan, Australia, The growth rate is not 10.4%, neither ever sustained!? Please do your home work to comment. India due to its stringent, prudential policies has no impact of US / Europe, including Australia fall outs! Regards,
----- End of Geoff Jordan reply------
My pragmatic analysis dictates me to ascertain my post of 14th, - Obliated recovery -- which the fiscal managers may be at a loss to respond though you have not clarified your position on the issue as required by me in my said post.
Knowledgeble posts backed by credible data in respect of biz/commerce/economy should be your litmus test for posting, especially asking 'more feedback' in your biz news letter editorial[s].
Such an absurd aspect, may be an abberation, speak for itself as regards the solicted mention of an untoward feedback reflecting on SME Times.
This is in no way intended to disparage SME Times, least of all Mr.Bikky & Mr.Geoff, WHATSOEVER.
SME Times should diligently evaluate its editorial posts for 'more feedbacks' of the subject matter in the context so as to render it more authentic, credible responses & furherance of its reach.
SME Times, has to percolate/disseminate authentic info in the context.
Regards,
Obliated recovery!
Vinay Joshi | Wed Oct 14 21:49:29 2009
Dear Mr.Bikky Khosla,
Diwali lit up you repeat/state
Planning Commission, PM advisory concil statements? You have proudly stated Aug'09,growth 10.4%!Failed to mention that it was as of month Aug'08 which was only 1.7%!? PLEASE CAN YOU EXPLAIN? If you must.
Is there a recovery? The recovery known to you only after IIP release!
Are you mixing India Inc, with MSME's? Can you highlight investments? You state that industry is not out of doldrums, neither the economy then Where the question arises for Diwali lit up? Before Q2 figures are available the MSME's in doldrums as on today is known!
The three sub indices, mfgr, minning, power though double digit growth has fuelled inflation along with industrial & consumer products, which is not a consideration of the authorities.
Your 'Festive Fillip' message is negated by me. The data [to some extent] reflects recovery & policy measaures have to foster growth of MSME's [as always posted by me.] This is no signal to RBI tho' planning comm. & FinMin are of the view that rising inflation is no cause of worry to expand growth.The weaker US$, high oil prices, commodities,do not signal path to prosperity. Will MSME's wake up by your call? So much so int'l rating agencies are optimistic.The domestic economy demand growth stats, necessarily do not translate to MSME's unless they are enterprising in all sense!This slew of data not a barometer of MSME's woes. But MSME's have to strenghten themselves at this point in time. Rgds.
New Investments coming up in various sectors
Praveenkumar | Wed Oct 14 11:27:50 2009
Thats a good sign and i have personally seen good growth in Pharma and Health Care sector, however we need to concentrate on the investments coming up in this sector and could smebody help me in getting the detials of the service providers who can give the investments comingup in this sector
Growth
Geoff Jordon | Wed Oct 14 04:31:13 2009
Dear Bikky,
Its all good for India to sustain a Growth of 10.4%, however will it be sustainable, considering the effects of the Financial fallout in the US and Europe.
I was in India in Early January and found no effects of a recession.
There was a buzz of activity in the retail sector, which brings me to another point and that it Should the Export market fall the benificiaries will only be the locals.
Geoff Jordon
Australia
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Re: Growth
Saim Ahmad | Wed Oct 14 05:37:56 2009
i red this gr8 news for better economy health. this may boosting our economy bu this diwali u can say....... this shows the regrowing economy...... This is better than nothing....
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Re: Re: Growth
Praveenkumar | Wed Oct 14 11:27:03 2009
Thats a good sign and i have personally seen good growth in Pharma and Health Care sector, however we need to concentrate on the investments coming up in this sector and could smebody help me in getting the detials of the service providers who can give the investments comingup in this sector
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Re: Growth
Vinay Joshi | Wed Oct 14 18:47:40 2009
Dear Mr.Geoff Jordan, Australia,
The growth rate is not 10.4%, neither ever sustained!? Please do your home work to comment.
India due to its stringent, prudential policies has no impact of US / Europe, including Australia fall outs!
Regards,
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