India's Industrial Production Rises 3.6% in October 2020

The country’s index of industrial production (IIP) grew 3.6 percent to 128.5 in the month of October, according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI).

The IIP had slipped 6.6 percent in October 2019, the data showed.

The industrial growth so far in the fiscal year 2020-21 (April-October) has contracted 17.5 percent, compared to a 0.1 percent rise in the corresponding period a year ago, the data showed.

The rise in IIP data during October is primarily on account of the electricity and manufacturing sectors. The electricity sector saw a rise of 11.2 percent on-year to 162.2 in October, while the manufacturing sector witnessed a growth of 3.5 percent to 130.7. However, the mining sector contracted 1.5 percent to 98.0, the MoSPI data showed.

In October last year, the manufacturing sector had witnessed a contraction of 5.7 percent. During the same period, the mining sector had slipped 8.0 percent and the electricity sector had witnessed a fall of 12.2 percent, the data showed.

Now, among used based goods, the primary goods output slipped 3.3 percent in October this year, while that of capital goods grew 3.3 percent. Intermediate goods output rose 0.8 percent and infrastructure/construction goods climbed 7.8 percent, while consumer durables rose by 17.6 percent and consumer non-durables grew 7.5 percent, as per the data.

 

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