The IIP data at 5.6% is a positive development says Dheer Shah, CFO, BDR Pharmaceuticals
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Perspective by Mr. Dheer Shah, CFO, BDR Pharmaceuticals on February IIP data
“The IIP data at 5.6% is a positive development. The manufacturing sector's growth at 5.3% indicates robust demand. Most components have shown growth, mining at 4.6%, electricity at 8.2%, and primary goods at 6.8%. The IIP has shown steady growth in the past few months. For the first 11 months in FY23, April-February IIP growth was 5.5% showing underlining strength in the economy. A robust IIP is essential for over 7% growth as the government is envisaging. A pick-up in the manufacturing sector has a multiplier effect, mostly importantly it creates a large number of jobs at the factory level.”
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