April 13, 2022
The manufacturing sector recorded a 0.8% increase.
The manufacturing sector grew by 12.9% over April to February 2021-22.
Index of Industrial Production (IIP) had reduced by 3.2% in February 2021.
Rising prices of commodities and global crude oil have affected India’s manufacturing activity.
The factory output increased to 1.7% in February 2022 due to increased mining and power generation activities, resulting in the manufacturing sector increasing by 0.8%, as stated by a government report released this week. However, rising prices of commodities and global crude oil have affected India’s manufacturing activity.
Although the IIP had reduced by 3.2% during February 2021, the cumulative growth was, 12.5% from April to February 2021-22, In the same period last year, the sector decreased by 11.1%.
During the 11 month period, the manufacturing sector recorded a growth rate of 12.9%, compared to the decline of 12.5% during the same period, a year ago.