Industrial production growth slips to 2% from 7% in June
New Delhi, Aug 9: India's industrial production growth slipped to a four-month low of 2 per cent in June, mainly due to poor performance of mining and manufacturing sectors, according to government data released on Friday.
Factory output, as measured by the Index of Industrial Production (IIP), had expanded by 7 per cent in June 2018.
The previous low in IIP growth was in February 2019, when it had inched up 0.2 per cent. Thereafter, IIP grew at 2.7 per cent in March, 4.3 per cent in April and 4.6 per cent in May this year.
According to data released by the Ministry of Statistics and Programme Implementation, industrial output grew at 3.6 per cent in April-June quarter this fiscal, down from 5.1 per cent growth a year ago.
There was a slowdown in the manufacturing sector, which grew at 1.2 per cent in June 2019 as compared to 6.9 per cent a year ago.
Capital goods segment, which is a barometer of investment, saw a contraction of 6.5 per cent in June compared to 9.7 per cent growth a year ago.
Mining growth dropped to 1.6 per cent in June from 6.5 per cent in the corresponding month of the last fiscal.
The expansion in power generation sector stood at 8.2 per cent, compared to 8.5 per cent earlier.
As per use-based classification, primary goods segment grew 0.5 per cent, intermediate goods 12.4 per cent and infrastructure/construction goods (-) 1.8 per cent in June 2019.
Consumer durables and non-durables recorded growth of (-) 5.5 per cent and 7.8 per cent, respectively.
In terms of industries, 8 out of 23 industry groups in the manufacturing sector have shown positive growth during June as compared to the same month a year ago.
The industry group 'Manufacture of basic metals' showed the highest growth of 17.7 per cent, followed by 16.5 per cent in food products and 10.3 per cent in tobacco products.
On the other hand, the industry group Manufacture of paper and paper products' witnessed the highest negative growth of (-) 19.9 per cent, followed by (-) 14.3 per cent in 'Manufacture of furniture' and (-) 13.9 per cent in 'Manufacture of motor vehicles, trailers and semi-trailers'.
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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.
