Indian industry is moving out of recession, a Confederation of Indian Industry (CII) survey shows.

The survey asked manufacturers in 116 sectors about their performance during the financial year which ended in March.

It found that 65 showed growth of up to 10% over the same period last year.

Another 15 grew between 10% and 20%, with six leaping more than 20%.

Only 30 contracted during the year, the survey suggested.

The CII said the growth rates of industry sectors showing signs of revival were expected to pick up between April and June, provided the government keeps to the reform proposals outlined in the budget.

"For the next six months, the survey foresees a silver-lining based on the policies and programmes initiated by the government in some sectors," it said.

Export warning

The slowdown-hit sectors include the automobile business and certain basic goods such as crude oil, fertilizer, cold rolled steel and consumer goods - all of which suffer from overcapacity.

It also warned exports had "suffered a major setback".

Out of 48 export industries, 17 had negative growth, another 17 moderate growth, nine sectors had high growth and five excellent growth.

"This is definitely a major downslide in exports," the survey said, blaming a decline in foreign demand and a steep fall in international prices.