India’s factory output growth accelerates to 3.1% in April

13 Jun 2017 Evaluate

India's industrial production grew by 3.1 percent in April 2017, as compared to 2.7 percent in the month of March 2017 and against a drop of 1.2 percent in February 2017. The growth was due to good performance of electricity, mining and manufacturing sectors. The Index of Industrial Production (IIP) for the month of April 2017 stood at 117.9. The cumulative growth for the period April-March 2016-17 over the corresponding period of the previous year stood at 5.0 percent.

As per the data released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, IIP with base 2011-12 for the month of April 2017, the indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2017 stood at 99.9, 117.9 and 150.6 respectively, with the corresponding growth rates of 4.2 percent, 2.6 percent and 5.4 percent as compared to April 2016. The cumulative growth in these three sectors during April-March 2016-17 over the corresponding period of 2015-16 has been 5.4 percent, 4.9 percent and 5.8 percent respectively.

The output of capital goods, which are the barometer of investment in the country, contracted by 1.3 percent in April compared to growth of 8.1 percent a year ago. Similarly, consumer durables or white goods production declined 6 percent in April against 13.8 percent growth a year ago. As per Use-based classification, the growth rates in April 2017 over April 2016 are 3.4 percent in primary goods, 4.6 percent in intermediate goods and 5.8 percent in infrastructure/ construction goods. The consumer non-durables recorded a growth rate of 8.3 percent.

In terms of industries, 14 out of the 23 industry groups in the manufacturing sector showed positive growth during the month of April 2017 as compared to the corresponding month of the previous year. The industry group ‘Manufacture of pharmaceuticals, medicinal chemical and botanical products’ showed the highest positive growth of 29.1 percent followed by 17.9 percent in ‘Manufacture of tobacco products’ and 9.5 percent in ‘Manufacture of machinery and equipment n.e.c.’. On the other hand, the industry group ‘Manufacture of beverages’ showed the highest negative growth of (-) 19.2 percent followed by (-) 15.6 percent in ‘Manufacture of motor vehicles, trailers and semi-trailers’ and (-) 14.4 percent in ‘Manufacture of electrical equipment’.

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