The rebound in the Index of Industrial Production in November 2011 after the previous month’s decline demonstrates that industrial growth is not on a downward spiral, providing relief to industry.

The growth recovery has been driven entirely by the consumer goods sector with both durables and non durables showing strong growth.

Mr Chandrajit Banerjee director general of CII said that however, CII remains concerned that the performance of critical sectors in the capital goods and intermediate goods groups has been poor. Without a recovery in these sectors, the investment momentum will remain subdued, without which a sustained recovery will not be possible. Some measures to fast track large projects in the infrastructure area could lift business sentiment and drive a recovery in the coming year.