Industrial production expands by 3.1% in September
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India’s industrial production, measured in terms of the Index of Industrial Production (IIP), expanded by 3.1 per cent in September 2022, boosted by manufacturing, mining and power sectors. It had expanded by 4.4 per cent in September 2021. Factory output had contracted by 0.7 per cent in the preceding month (August 2022). It grew by 2.2 per cent in July this year. The data released by the Statistics and Programme Implementation Ministry showed that for the month of September 2022, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stood at 133.5. During April-September this year, IIP rose 7 per cent against 23.8 per cent expansion in the same period of 2021-22.
As per the data, the manufacturing sector grew by 1.8 per cent in September 2022, compared to 4.3 per cent growth recorded in the year-ago period. The power sector showed a growth of 11.6 per cent against a 0.9 per cent rise a year ago. The mining sector also witnessed a growth of 4.6 per cent in September 2022 compared to 8.6 per cent in the year-ago month. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of September 2022 stood at 99.5, 134.3 and 187.4 respectively.
Capital goods output, which is a barometer of investments, rose 10.3 per cent in September 2022 compared to 3.3 per cent growth in the corresponding month of the previous year. The consumer durables segment declined 4.5 per cent from 1.6 per cent growth earlier. The primary goods segment, which accounts for nearly 34 per cent of the index, expanded 9.3 per cent in September compared to 4.6 per cent growth in the year-ago period.
As per Use-based classification, the indices stood at 128.2 for Primary Goods, 102.9 for Capital Goods, 145.8 for Intermediate Goods and 155.8 for Infrastructure/ Construction Goods for the month of September 2022. Further, the indices for Consumer durables and Consumer non-durables stood at 125.1 and 136.9 respectively for the month of September 2022. Meanwhile, the ministry said the growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.
