The March IIP number was dismal, it contracted 3.5%. Consumer durables sector growth was up just 0.2%. Venugopal Dhoot, chairman and managing director of Videocon says, he is not surprised by consumer durables sector growth. He expects the sector to improve after June.
The consumer durables output growth slowed to 4.6% in August, compared to a growth of 8.1% in the previous year. Venugopal Dhoot, chairman and managing director of Videocon expects the consumer durables industry to go up from November onwards. Videocon has increased prices in the last two months, he added.
MS Unnikrishnan, MD, Thermax citing his views on the IIP said, that there is a visible retardation in the finalisation of orders though the executions of orders are continuing.
Venugopal Dhoot, the CMD of Videocon, in an exclusive interview on CNBC-TV18, has announced an oil and gas discovery off the coast of Mozambique. This is the company’s third gas find in Mozambique’s waters.