A new report by the Confederation of Indian Industry (CII) claims India’s industrial gas sector is experiencing growth.
The CII mAscon survey focuses on the period of April to June 2009, comparing it to the same period in 2008, as well as the financial year, April 2008 to March 2009.
When compared with survey results for the 2009 financial year, the number of sectors in both the Excellent and High Growth categories recorded an increase, suggesting industry is building on the marginal signs of recovery reported in the last survey done for the period April 2008 to March 2009.
The industrial gases sector was included in both the ‘excellent’ and the ‘high growth’ categories. Specifically, nitrogen, oxygen, argon were listed as experiencing excellent growth, and carbon dioxide and hydrogen were in the High Growth category.
Amid the optimism there are still concerns for India’s economy. Indian exports for example have declined by 23% since October 2008, and this trend has continued throughout 2009.
The CII said the challenge is now to sustain the recovery that is still at a nascent stage. Things look positive however for the industrial gased industry however, as applications which use industrial gases, like the automobile sector, and fertiliser and alcoholic beverages, also featured in the Excellent or High Priority categories of the survey, suggesting strong foundations are in place for continuing growth in the sector.