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It had slumped to a 10-month low of 0.4% in December 2021
Photo Credit : Reuters
India's Industrial Production growth recovered to 1.3 per cent in January, 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), fell 0.6 per cent in the month of January 2021. For April 2021-January 2022, industrial output has clocked a growth of 13.7 per cent versus a contraction of 12 per cent in April 2020-January 2021.
Among sectors, the mining output growth also accelerated to 2.8 per cent during January as compared to a rise of 2.6 per cent in December. The electricity generation growth slowed in January rising 0.9 per cent versus 2.8 per cent in December. Manufacturing sector output grew 1.1 per cent as against a degrowth of 0.9 per cent in the preceding month.
Data released late last month showed India's eight core sectors expanded by 3.7 per cent year-on-year in January as against 4.1 per cent the previous month.
Industrial production has been hit due to the coronavirus pandemic since March 2020, when it had contracted 18.7 per cent. The eight-core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), making it a lead indicator of industrial activity.