India’s industrial production rises to 4.2% in April

13 Jun 2023 Evaluate

India’s industrial production growth measured in terms of the Index of Industrial Production (IIP) rose to 4.2 per cent in April, in line with good performance by the manufacturing sector. The latest industrial growth figure is significantly higher than that for March, when it had come in at a five-month low of 1.1 per cent. That number has now been revised to 1.7 per cent. The factory output stood at 6.7 per cent in April 2022. For the month of April 2023, the Quick Estimates of IIP with base 2011-12 stood at 140.2.

As per the data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 4.9 per cent in April 2023 compared to an increase of 1.2 percent in March. Power generation declined 1.1 per cent in April 2023 following up March's 1.6 percent fall. However, mining output stood at 5.1 per cent during the month under review down from 6.8 percent in March. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2023 stood at 122.5, 138.1 and 192.3 respectively.

As per use-based classification, the capital goods segment recorded a 6.2 per cent growth in April compared to a 12 per cent expansion a year ago. Consumer durables output during the month declined by 3.5 per cent against a 7.2 per cent growth a year ago. Consumer non-durable goods output grew 10.7 per cent against a contraction of 0.8 per cent a year earlier. Infrastructure/construction goods posted a growth of 12.8 per cent compared to a four per cent expansion in the same period a year ago.

The data also showed that the output of primary goods logged 1.9 per cent growth in the month against 10.3 per cent in the year-ago period. The intermediate goods output in April grew by 0.8 per cent compared to a 7.1 per cent growth during the corresponding month last year. Besides, the indices stood at 142.1 for Primary Goods, 94.0 for Capital Goods, 150.7 for Intermediate Goods and 168.8 for Infrastructure/ Construction Goods for the month of April 2023. Further, the indices for Consumer durables and Consumer non-durables stood at 106.8 and 153.7 respectively for the month of April 2023.

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