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India's industrial growth, as per the Index of Industrial Production (IIP), accelerated to 7.1 percent in November 2022. IIP growth returned to positive territory in November after it had contracted by 4 percent in October - the industry's worst performance in 26 months. The IIP grew by 1 per cent in November 2021. The IIP in November stood at 137.1, which is higher as compared to 128 in the year-ago period. In October 2022, an IIP of 129.3 was clocked. For April-November 2022, the country's industrial output is up 5.5 percent on a year-on-year basis, down from 7.1 percent in the first eight months of FY22.

As per the IP data released by the National Statistical Office (NSO), the manufacturing sector‘s output grew by 6.1 per cent in November 2022 as compared to 0.3 per cent in November 2021. The mining output rose by 9.7 per cent over 4.9 per cent in the same month of previous year and power generation increased by 12.7 per cent during the month under review as against 2.1 per cent in the corresponding month of previous year. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2022 stood at 122.7, 136.7 and 166.7 respectively.

Besides, Capital goods which had contracted 1.7% in October, bounced up 20.7% in November. Consumer durables output rebounded to grow 5.1% after three months of contraction. As per Use-based classification, the indices stood at 132.5 for Primary Goods, 99.1 for Capital Goods, 145.6 for Intermediate Goods and 159.6 for Infrastructure/ Construction Goods for the month of November 2022.  Further, the indices for Consumer durables and Consumer non-durables stood at 112.0 and 161.1 respectively for the month of November 2022.