Industrial growth plunges to 5.3% in Nov 07

New Delhi: Growth in India’s industrial production plunged to 5.3% in November this fiscal from 15.8% last year following a huge decline in the manufacturing sector.

The manufacturing growth dipped to 5.4% in November from 17.2% in 2006.

Electricity segment also showed a dismal performance growing by only 5.8%, against 8.7%. Mining was down from 8.8% to 3.5%.

For the April-November period of fiscal 2007-08, the Index of Industrial Production settled at a single digit figure of 9.2% against 10.9% in the same period last year.

All the segment indices were in the single digit for the April-November period.

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