Industry body ASSOCHAM said the industrial output showing growth in November in wake of the prevailing global economic scenario together with a tightened monetary policy shows resilience of the industry.

Mr DS Rawat secretary general of Associated Chambers of Commerce and Industry of India said that “The growth is primarily driven by the consumer durables and non durables, indicating a strong growth in demand, while growth in key industries like mining, manufacturing and capital goods have been below expectation.”

Mr Rawat said that “The lackluster performance of the capital goods and intermediate goods sector is mainly due to slow inflow of investments which has also compelled the Reserve Bank of India to take a hard monetary stand.”