March 22, 2011 / 08:20 IST
The industrial sector, including construction, is projected to grow by 9.4% during FY 12, as compared to 8.6% estimated in 2010-11. Steel, cement, automobiles and petroleum products segments are projected to see a 9% -plus growth in FY 12, it said.
Other industries like paints and varnishes, tubes and pipes, sponge iron, lifts and elevators, domestic refrigerators and transformers are expected to do well too, CMIE said.Growth in industrial production will be driven by a rise in consumption demand and investment demand."Consumption demand, in turn, will be driven by a rise in corporate wages, fresh employment generation and lower inflation. Investment demand is expected to remain buoyant, as more and more projects move into the implementation stage," it said.Projects worth Rs 8-lakh-crore are scheduled to be commissioned in FY 12, as compared to Rs 3.6-lakh-crore in FY 11.This is expected to push-up activities in the construction sector. The sector is projected to grow by 10.5% during the fiscal, as compared to an estimated 9.5% in 2010-11. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
