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Below is Perspective on IIP numbers By Mr. Vivek Rathi, Director Research, Knight Frank India.

"A 7.1% industrial production growth in Apr’22 was strongly supported by low base during the severe COVID-19 second wave. However, the sequential decline reflects the weakness in numbers. The strength witnessed in early high frequency indicators such as manufacturing PMI, GST collection etc. is not yet translating into industrial production. Categorically, except for electricity, industrial production broadly remained lacklustre in April 2022. Sequential decline in capital goods, which is a proxy for investments is worrisome. Also, persisting contraction in consumer durables adds to concerns of weakening consumption growth amidst rising prices, which needs policy attention.”

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