Industrial Production Regains Momentum, Grows 3.1% In September - thebestdealindia

Industrial Production Regains Momentum, Grows 3.1% In September


Industrial Production Regains Momentum, Grows 3.1% In September

India’s industrial production expanded by 3.1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday.

Factory output had contracted by 0.7 per cent in the preceding month (August 2022). It grew by 2.2 per cent in July this year.

Factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 4.4 per cent in September 2021.

The manufacturing sector grew by 1.8 per cent in September 2022, compared to 4.3 per cent growth recorded in the year-ago period, as per the data released by the Ministry of Statistics and Programme Implementation.

The power sector showed a growth of 11.6 per cent against a 0.9 per cent rise a year ago. The mining sector also witnessed a growth of 4.6 per cent in September 2022 compared to 8.6 per cent in the year-ago month.

During April-September this year, IIP rose 7 per cent against 23.8 per cent expansion in the same period of 2021-22.

Capital goods output, which is a barometer of investments, rose 10.3 per cent in September 2022 compared to 3.3 per cent growth in the corresponding month of the previous year.

The consumer durables segment declined 4.5 per cent from 1.6 per cent growth earlier.

The primary goods segment, which accounts for nearly 34 per cent of the index, expanded 9.3 per cent in September compared to 4.6 per cent growth in the year-ago period.

The ministry said the growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.

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