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Diwali Dhamaka - 42% Industrial Growth In October

Industrial Growth

India's industrial growth received a huge impetus from consumer durable goods, whose demand rose by a whooping 42 percent in October. Last year, consumer durables segment had contracted by 35 percent. Purchasing a new product during Diwali is considered auspicious and the data hints at the products which typically Indians buy during the festive season. The previous high in the index of industrial production was in October 2010 at 11.36 percent.

Growth Drivers

  • Gems and Jewellery - 372%
  • Mobile phones and accessories - 61.5%
  • Colour TV - 34.5%
  • Scooter and mopeds - 24.5%
  • Passenger Cars - 21.4%