The Associated Chambers of Commerce & Industry of India

"The Knowledge Chamber: Serving the Nation since 1920"

Index of Industrial Production (IIP) for July 2018

 

Wednesday, September 12, 2018


New Delhi, 
12 September 2018: Terming the latest estimates for Index of Industrial Production (IIP) as a positive sign towards the growth cycle of industrial activity in India, apex industry body ASSOCHAM today said that July 2018 IIP numbers state an optimistic outlook for the economy.
 
The index of industrial production accelerated in July 2018 which is 6.6 percent higher as compared to 1.0 percent in the month of July 2017, mainly pulled up by strong performance in manufacturing, electricity, primary goods, capital goods, infrastructure/construction, consumer durable goods and non-consumer durable goods," said ASSOCHAM secretary general, Mr Uday Kumar Varma.
 
"Further, the rise in output of capital goods sector is indicative of improvement in investment demand," said Mr Varma.
 
The chamber states that domestic market will be the driving force in the coming months as growing Indian economy will provide steady flow of new businesses, however, risks to the Indian economy continues to prevail in the forms of continued uncertainties in the global environment due to trade crisis situations, including rising global protectionism and this could further delay a meaningful recovery of external demand, said Mr. Varma.
 

About ASSOCHAM: 

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold 
over 400 Chambers and Trade Associations, and serving over 4.5 lakhmembers across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on 
www.assocham.org
 
For further details, please contact:
 
Manju Negi
AVDHESH SHARMA
ASSOCHAM
ASSOCHAM
011-46550509; +919810910911
011-46550508; +918527639419
 

 

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