7 SECTORS RECORD NEGATIVE GROWTH
Article Abstract:
According to the Confederation of Indian Industry, 7 sectors of the industry in India registered negative sales growth during April-October 1998. The growth of the commercial vehicles and the machine tools segments was -30 percent, that of the cars segment -1 percent and that of the multi-utility vehicles segment -19 percent. The growth of the cold-rolled steel sector was -2.5 percent, that of the textile machines sector -28 percent and that of the automobile components segment -7 percent. The cement sector recorded growth 3.8 percent (7.7 percent in the same period of 1997). The growth of the drugs and pharmaceuticals sector was 18 percent (19 percent), of the electronic components sector 11 percent (15 percent), of the fertilisers sector 4.3 percent (20 percent) and of the paints sector 12 percent (13 percent). The growth of the rubber goods sector was 7 percent (9 percent) and of the tractors sector 0.6 percent (15 percent). The 2-wheelers segment recorded growth of 12 percent (0 percent), the glass sector 7.5 percent (5 percent), the steel sector 2.5 percent (1 percent) and the sugar sector 3 percent (2 percent). In the information technology sector, personal computers grew by 43 percent and software by 50 percent. The construction industry grew by 18 percent. (tsm)
Comment:
According to the Confederation of Indian Industry, 7 sectors of the industry in India registered negative sales growth during April-October 1998.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DILUTION OF PACKAGING ACT TO SOUND DEATH KNELL FOR JUTE INDUSTRY
Article Abstract:
The Government of India has recently made changes in the Packaging Act removing the mandatory use of jute bags for cement and fertiliser packing. This dilution of the Act is likely to severely affect the jute industry, which is already facing competition from cheaper synthetic substitutes, poor demand and increasing cost of production caused by the wage hikes. The tripartite wage agreement expired on December 1, 1998. The labour unions have appealed to the Government for a minimum wage hike of Rs500 per month per worker. The jute manufacturers are faced with increasing production costs with wage bills accounting for two- fifths of the cost of production. The average price of sacking has increased by 1.3 percent from Rs2,099 per 100 bags in 1996 to Rs2,127 per 100 bags in 1999. The average wages per worker per month has increased by 37 percent from Rs2,616 in the quarter ended January 1996 to Rs3,583 in the quarter ended January 1999. The average price of hessian has declined from Rs930 per 100 metres to Rs837. The average price of raw jute has increased by 64 percent (Rs400 a quintal) during 1998. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ICL PUTS SUGAR PROJECT ON THE SALE BLOCK
Article Abstract:
India Cements Ltd (ICL) has decided to sell of its sugar unit subsidiary under its ICL Sugars Ltd. The project is coming up in the Mandya district of Karnataka. The company which had invested Rs15 crore in the project has frozen its equity investments in ICL Sugars Ltd. The sale of the sugar unit is in keeping with its consolidation programme which includes integrating operations of all its seven cement plants at Tamil Nadu and Andhra Pradesh. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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