India reports positive industrial activity figures

Encouraging new industrial figures from India have shown an upturn in production during November 2011.

Data from the nation's central statistical office shows that output from factories, utilities and mines increased 5.9 per cent from November 2010, rallying from a 4.7 per cent decline in October 2011.

This was considerably higher than estimates suggested and will help to ease concerns that record levels of interest rate increases in the Asian nation are impacting negatively on consumer demand.

Inflation rates in the nation are also thought to have fallen in November, but this remains a key issue for the Indian financial sector.

The news comes as the Indian government aims to strengthen the corporate infrastructure of the country with new governance guidelines, replacing laws that have been in place since the 1950s.

It is hoped that the new legislation, which will be discussed over the coming months, will help to improve transparency, while creating a formalised concept of corporate social responsibility.