PHD Chamber hails IIP growth at 7% in June 2018

No.PR-65 August 10, 2018 New Delhi PHD Chamber hails IIP growth at 7% in June 2018 Broad based recovery in IIP at 7% in June 2018 is inspiring and we look forward for the growth momentum to continue in the coming months too, said Mr. Anil Khaitan, President, PHD Chamber of Commerce & Industry in a press statement issued here today. India’s IIP growth is registered at 7% in June 2018 of which mining, manufacturing and electricity stands at 6.6%, 6.9% and 8.5% respectively over June 2017. Growth of capital goods at 9.6% is inspiring as the investment cycle is expected to rebound in the coming months, said Mr. Khaitan. The growth of consumer durable at 13.1% indicates strengthening of demand scenario in the rural India and it will boost the manufacturing growth further and strengthen overall economic trajectory, said Mr. Khaitan The core sector with a strong growth at 6.7% is indicating a further expansion in industrial activity, said Mr. Khaitan. Going ahead, the continuation of the reform measures would pave the way for further strength to the industrial activity and open up avenues for more employment opportunities going forward, said Mr. Anil Khaitan. We look forward to a more than 7% industrial growth in the current financial year 2018-19, said Mr. Khaitan. Thanks Koteshwar Prasad Dobhal