India sees green shoots of recovery


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.

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