India's industrial production up 4.2% in April from 1.1% in March
2 min read 12 Jun 2023, 05:42 PM ISTThe index of industrial production in India rose 4.2 per cent on an annual basis in the month of April from 1.1 per cent in March
PremiumThe index of industrial production in India rose 4.2 per cent on an annual basis in the month of April from 1.1 per cent in March and 6.7 per cent in April 2022, according to data released by the Ministry of Statistics and Programme Implementation on Monday.
India's industrial production growth (IIP) slipped to a five-month low of 1.1 per cent in March. That number has now been revised to 1.7 per cent. The previous lowest level of growth was recorded in October 2022 at a contraction of 4.1 per cent.
Factory output measured in terms of the Index of Industrial Production (IIP) grew 6.7 per cent in April 2022.
The manufacturing sector's output - which accounts for more than three-fourth of the IIP - grew 4.9 per cent in April 2023 as against 5.6 per cent a year ago, according to data by National Statistical Office (NSO).
While, power generation declined by 1.1 per cent in April 2023 against a growth of 11.8 per cent. The mining output rose by 5.1 per cent during the month under review compared to a growth of 8.4 per cent in the year-ago period.
As per use-based classification, the indices stand at 142.1 for primary goods, 94.0 for capital goods, 150.7 for intermediate goods and 168.8 for infrastructure/ construction goods for the month of April 2023. Further, the indices for consumer durables and consumer non-durables stand at 106.8 and 153.7 respectively for the month of April 2023.
The category which saw a huge turnaround in April was consumer non-durable goods, whose output surged by 10.7 percent after having contracted by 2.7 percent in March. Growth in production of infrastructure goods was also in double-digit territory - 12.8 percent as against 7 percent in March.
On the other hand, output of consumer durables contracted for the fifth month in a row, this time by 3.5 percent.