It has been reported that India’s industrial production grew by 3.2% in the month of October but slowed down when compared with September month, according to the data released by the ministry of statistics and programme implementation (MoSPI) on Friday.
Industrial output, as measured by IIP (Index of Industrial Production), surged 4.5% in the month of October last year and rose 3.1% in the month of September, the company said.
Analysts polled by Reuters had expected a rise of 4% in October.
Manufacturing Sector
For the month of October 2021, the quick estimates of IIP stood at 133.7.
The mining output during October month grew by 11.4%, while manufacturing sector output rose 2%.
Meanwhile, the electricity generation in October grew 3.1%. Industrial production has been surging for the past few months mainly due to low-base of last year, but the latest print suggests the base effect is waning.
Factory output for the April-October period rose 20% as compared to a contraction of 17.3% in the same period of last year, the company said.
Industrial production
Industrial production has been surging for the past few months mainly due to low-base of last year, but the latest print suggests the base effect is waning.
Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7%.
It shrank 57.3% in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. (live mint)
