India’s industrial production growth perked up slightly to 5.2 per cent in January from 4.7 per cent in December 2022, primarily due to good efficiency of the ability, mining and manufacturing sectors, in accordance to official knowledge launched on Friday.
There was an enchancment on an annual in addition to sequential foundation. The manufacturing unit output growth measured in phrases of the Index of Industrial Production (IIP) stood at two per cent in January 2022.
As per the IIP knowledge launched by the National Statistical Office (NSO), the manufacturing sector’s output grew 3.7 per cent in January 2023 from 1.9 per cent a 12 months in the past.
Mining output rose 8.8 per cent through the month below assessment in contrast to 3 per cent in January 2022.
Power technology additionally surged 12.7 per cent in January 2023 in opposition to 0.9 per cent in the year-ago month.
As per use-based classification, the capital items section recorded a growth of 11 per cent in January in opposition to a growth of 1.8 per cent in the corresponding month of the final fiscal.
Consumer durables output declined by 7.5 per cent in contrast to a contraction of 4.4 per cent a 12 months in the past.
Consumer non-durable items output expanded by 6.2 per cent in opposition to a growth of three.1 per cent earlier.
Infrastructure/building items too posted a growth of 8.1 per cent in contrast to a 5.9 per cent growth in the identical month of 2022.
The knowledge additionally confirmed that the output of major items logged 9.6 per cent growth in the month in opposition to 1.6 per cent in the year-ago interval.
The intermediate items output growth decelerated to 0.1 per cent from 2.5 per cent earlier.
For the primary 10 months of the present fiscal (April-January), the growth in IIP works out to be 5.4 per cent, down from 13.7 per cent in the year-ago interval.
(Only the headline and movie of this report might have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)
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