India’s industrial production grows at a faster pace of 4.3% in August

India's industrial production expanded at a faster pace of 4.3 per cent in August compared to a meager 1.2 per cent growth recorded in the previous month, helped by better performance by the mining and electricity sectors, official data released today showed.

The cumulative growth for the period April-August 2017 over the corresponding period of the previous year stands at 2.2 per cent, data released by the Central Statistics Office showed.

India's industrial production based on the index of industrial production (IIP) had recorded a negative growth of -0.7 per cent in August 2016.

Production in the mining, manufacturing and electricity sectors record growth rates of 9.4 per cent, 3.1 per cent and 8.3 per cent, respectively while the three sectors recorded cumulative growth rates of 3.3 per cent, 1.6 per cent and 6.2 per cent, respectively, in April-August 2017.

Ten out of the 23 industry groups in the manufacturing sector have shown positive growth during August 2017 compared to the corresponding month of the previous year. The industry group 'manufacture of computer, electronic and optical products' has shown the highest positive growth of 24.9 per cent, followed by 'manufacture of pharmaceuticals, medicinal chemical and botanical products' 16.5 per cent, and 'manufacture of other transport equipment' 11.1 per cent. On the other hand, the industry group 'manufacture of furniture' has shown the highest negative growth of (-) 16 per cent, followed by 'manufacture of tobacco products' (-) 15.1 per cent and 'printing and reproduction of recorded media' (-) 11.4 per cent.

Primary goods sector grew 7.1 per cent in August while capital goods sector grew 5.4 per cent and intermediate goods production grew at a negative 0.2 per cent and the infrastructure / construction goods sector grew 2.5 per cent.

Production of consumer durables and consumer non-durables recorded growth rates of 1.6 per cent and 6.9 per cent, respectively.