India’s industrial production up 11.5% in July
13 Sep 2021
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Industrial production in India, based on the Index of Industrial Production (IIP), rose 11.5 per cent year-on-year in July, according to quick estimates released by the National Statistical Office (NSO) on Friday.
As per the Index of Industrial Production (IIP) data, the manufacturing sector's output surged 10.5 per cent in July 2021, while output in the mining sector climbed 19.5 per cent and power generation increased 11.1 per cent.
Manufacturing output had jumped 34.5 per cent in May and nearly 200 per cent in April. Manufacturing had seen a freefall for most of 2020 amidst total lockdowns at the national and regional levels.
Overall industrial production in the country had contracted 10.5 per cent in July 2020.
During April-July this year, the IIP had grown 34.1 per cent against a contraction of 29.3 per cent in the same period last year.
Industrial production has been hit due to the coronavirus pandemic since March last year when it contracted 18.7 per cent.
It shrank 57.3 per cent in April 2020 due to a decline in economic activities following the nationwide lockdown in the wake of the spread of the Wuhan virus.
Industrial production in the country has maintained a high growth trend from March 2021, aided by a continuing low base effect. But the growth rate is slowing with the fading of the low base effect
Also, indices for the current months in 2021 are not strictly comparable with the same months of 2020, when the nationwide lockdown was in full force and a majority of factories were not operating.
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