India’s industrial output jumps 8.4% in November

The country’s Index of Industrial Production (IIP), compiled using data received from 14 Governmental agencies and indicating manufacturing growth, stood at 125.6 during the month of November 2017

January 12, 2018

The November growth is a considerable improvement compared with that of 2.2 per cent in October, thus indicating a steady strengthening of the national economy

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors in November 2017 reported growth of 1.1 per cent, 10.2 per cent and 3.9 per cent.

15 out of the 23 industry groups in the manufacturing sector recorded positive growth in November, led by the pharmaceutical manufacturing sector at 39.5 per cent

The report, released by by the Government’s Central Statistics Office, showed cumulative year-on-year national IIP growth stands at 3.2 per cent for April-November 2017

India’s Index of Industrial Production (IIP) for the month of November 2017 recorded a year-on-year growth of 8.4 per cent. The general index, which indicates level of national manufacturing output, stood at 125.6 during the month. The growth is a considerable improvement compared with that of 2.2 per cent in October, thus indicating a steady strengthening of the national economy. The report, released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation on January 12th, also showed a cumulative IIP growth of 3.2 per cent for the period April-November.

The November IIP growth rate came in higher than market estimates and is touted to reinvigorate marketing activities in the country. India’s manufacturing sector has recorded a steady upswing with a recovery in the global commodities market and the national capital market. The manufacturing growth has also been buoyed by the Government’s initiatives such as Make in India and Skill India, among others.

The November estimates with base 2011-12 was compiled using data received from 14 Governmental source agencies – (i) Department of Industrial Policy and Promotion (DIPP); (ii) Indian Bureau of Mines; (iii) Central Electricity Authority; (iv) Joint Plant Committee, Ministry of Steel; (v) Ministry of Petroleum and Natural Gas; (vi) Office of Textile Commissioner; (vii) Department of Chemicals and Petrochemicals; (viii) Directorate of Sugar and Vegetable Oils; (ix) Department of Fertilizers; (x) Tea Board; (xi) Office of Jute Commissioner; (xii) Office of Coal Controller; (xiii) Railway Board; and (xiv) Coffee Board.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors in November 2017 stood  at 107.4, 127.5 and 140.1, with the corresponding year-on-year growth rates of 1.1 per cent, 10.2 per cent and 3.9 per cent, respectively. The cumulative growth in these three sectors during April-November was 3.0 percent, 3.1 percent and 5.2 percent, respectively. Meanwhile, 15 out of the 23 industry groups in the manufacturing sector have shown positive growth during November. The pharmaceutical manufacturing sector recorded the highest growth rate, of 39.5 per cent.