Negative growth has been projected in machine tools, diamond tools, pumps, allow steel, cold rolled steel strips, chemicals, alkali and leasing and hire purchase sectors. CII estimates on performance of various industrial sectors in 1997-98 show a spectacular performance by consumer electronics and durables and the information technology industry. While colour television sales grew by 27 per cent, software was up by 45 per cent and personal computer and hardware by 50 per cent each. Housing finance industry also grew by 21 per cent. Among the basic goods, polypropylene grew by a whopping 154 per cent, followed by polyester staple fibre at 35.9 per cent and polyesterfilament yarn by 30.2 per cent.
Automobiles industry leads the sectors which reported negative growth.
Sales of commercial vehicles fell by 32 per cent, cars by 1 per cent and scooter three per cent.