Sustainable textiles up 281%
According to its statistics office, India's Index of Industrial Production for January showed marginal growth across all major sectors including manufacturing, mining and electricity.
According to the report, 15 of the 17 industry groups posted positive growth in January compared with the same month in the previous year.
The highest growth was posted by the ‘jute and other vegetable fibre textile (except cotton)' sector, which saw a rise of 281.1%. Other significant increases were seen in the ‘leather and leather and fur products' sector (18.7%) and ‘basic chemicals and chemical products (except production of petroleum and coal)' (13.1%).
However, the nine interest rate rises introduced since 2004, high inflation and the impact of currency appreciation appears to have inhibited industrial growth.
