Index of Industrial Production falls for 3rd straight month by 3.8% in October
New Delhi, Dec 12: Showing signs of economic slowdown, Industrial production shrank for third consecutive month in October by 3.8 per cent, mainly due to output fall in manufacturing, mining and electricity sectors, as per official data released on Thursday.
According to the National Statistical Office (NSO) data, the factory output declined by 4.3 per cent in September and 1.4 per cent in August this year, while it grew at 4.9 per cent in July.
Factory output, measured in terms of Index of Industrial Production (IIP), had expanded by 8.4 per cent in October 2018.
During April to October, the IIP growth remained almost flat at 0.5 per cent compared to 5.7 per cent in same period previous fiscal.
The manufacturing growth rate declined by 2.1 per cent in October as compared to 8.2 per cent a year ago.
Power generation growth slipped sharply by 12.2 per cent in October, compared to 10.8 per cent in the year-ago period.
Mining output too fell 8 per cent in the month under review as against 7.3 per cent in the corresponding period last fiscal.
Capital goods production, which is a barometer of investment, declined by 21.9 per cent in October compared to 16.9 per cent rise in the year-ago month.
As per use-based classification, the growth rates in October 2019 over October 2018 are (-) 6 per cent in Primary goods, 22.2 per cent in Intermediate goods and (-) 9.2 per cent in Infrastructure/ Construction Goods.
The consumer durables and consumer non-durables have recorded growth of (-) 18 per cent and (-) 1.1 per cent, respectively.
In terms of industries, 18 out of 23 industry groups in the manufacturing sector have shown negative growth during October 2019 as compared to the same month last year.
The industry group 'manufacture of computer, electronic and optical products' has shown the highest negative growth of (-) 31.3 per cent followed by (-) 27.9 per cent in 'Manufacture of motor vehicles, trailers and semi-trailers'.
On the other hand, the chemicals and its products have shown the highest positive growth of 31.8 per cent followed by 9.4 per cent in basic metals.
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What is Iran’s 10-point plan? Key demands ahead of US talks in Islamabad
Tehran/Islamabad: Iran has outlined a 10-point plan as the basis for upcoming talks with the United States, expected to begin in Islamabad on April 11, according to a statement from the Iranian Supreme National Security Council.
The plan lays out Tehran’s key political, military and economic demands, and is being seen as a framework for negotiations following the recent escalation in the region.
Strait of Hormuz at the centre
A major focus of the plan is the Strait of Hormuz, a critical global shipping route. Iran has proposed “controlled passage through the Strait of Hormuz in coordination with the Iranian armed forces,” which it says would give the country a unique economic and geopolitical position.
The plan also calls for the “establishment of a safe transit protocol” in the Strait that would guarantee Iran’s dominance under an agreed mechanism.
Call to end conflict
Iran has demanded “the necessity of ending the war against all elements of the axis of resistance,” signalling its expectation that hostilities should stop not only in Iran but also involving allied groups in the region.
US troop withdrawal
Another key demand is the “withdrawal of US combat forces from all bases and deployment points in the region,” indicating Tehran’s long-standing position against American military presence in West Asia.
Sanctions relief and compensation
The plan places strong emphasis on economic measures. It calls for “full payment of Iran’s damages according to estimates,” along with “the lifting of all primary and secondary sanctions and resolutions of the Board of Governors and the Security Council.”
It also seeks “the release of all Iranian assets and properties frozen abroad,” which have been a major point of contention for years.
Binding global guarantee
Finally, Iran has demanded that all these terms be formally recognised through “a binding Security Council resolution,” suggesting it wants international legal backing to ensure enforcement.
What this means
The 10-point plan reflects Iran’s broader push for security guarantees, economic relief and regional influence. The upcoming talks in Islamabad are expected to test how far both sides are willing to negotiate on these demands.
