May 13, 2022
The manufacturing sector’s output grew by 0.9%
Power generation rose by 6.1%, and Mining output climbed by 4%
The IIP shrank by 57.3% in April ‘20, due to the pandemic
IIP’s growth is expected to accelerate at 3-5% in May ‘22
India’s industrial production rose by 1.9% in March ‘22, according to official data released by the National Statistical Office (NSO) for the country’s Index of Industrial Production (IIP).
According to the data, the manufacturing sector’s output grew by 0.9% in March ‘22. The data also mentioned that mining output climbed by 4%, and power generation rose by 6.1%. The IIP has increased by 11.3% in 2021-22, against an 8.4% contraction in FY21.
The four segments which have witnessed the growth, are primary goods (5.7%), capital goods (0.7%), intermediate goods (0.6%), and infrastructure goods (7.3%).
Industrial production is undergoing a healthy rebound, after shrinking by 57.3% in April ‘20 and a contraction of 18.7% in March ‘20, due to the wake of the pandemic.
According to industry experts, the IIP’s growth is expected to accelerate at 3-5% in May ‘22.
