Recovering from 10-month low of 0.4 per cent in December 2021, India’s factory production measured in Index of Industrial Production (IIP) expanded by 1.3 per cent on an annual basis in January 2022 on account of better performance by mining and manufacturing sectors, though capital goods segment remained in contraction mode. The Index of Industrial Production (IIP) had contracted by 0.6 per cent in January 2021. For the month of January 2022, the Quick Estimates of IIP with base 2011?12 stood at 138.4. In the April-January period of the current fiscal, the IIP growth stood at 13.7 per cent as against a contraction of 12 per cent in the corresponding period of 2020-21.
As per the data released by the Ministry of Statistics and Programme Implementation, the growth in the mining sector was 2.8 per cent against a contraction of 2.4 per cent in January 2021. The manufacturing sector during January 2022 expanded by 1.1 per cent, compared to a contraction of 0.9 per cent in the year-ago period. However, growth in power generation decelerated to 0.9 per cent as against an expansion of 5.5 per cent in January 2021. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of January 2022 stand at 124.7, 138.1 and 165.6 respectively.
The data further revealed that capital goods output contracted by 1.4 per cent as against a sharp contraction of 9 per cent witnessed in January 2021. Consumer durables segment too remained in the negative zone, showing an annual contraction of 3.3 per cent. However, primary goods segment, which accounts for nearly 34 per cent of the index, grew by 1.6 per cent in January 2021 as against 0.7 per cent in the year-ago month. Intermediate goods, infrastructure/construction goods, and consumer non-durable segments too posted positive growth. As per Use?based classification, the indices stood at 136.5 for Primary Goods, 91.9 for Capital Goods, 151.1 for Intermediate Goods and 158.2 for Infrastructure/ Construction Goods for the month of January 2022. Further, the indices for Consumer durables and Consumer non?durables stood at 119.8 and 152.9 respectively for the month January 2022.
