Last Update: March 10, 2023, 18:41 IST
Manufacturing sector output grew to 3.7 percent in January 2023 from 1.9 percent a year earlier.
improved on an annual as well as sequential basis
India’s industrial production growth picked up from 4.7 per cent in December 2022 to 5.2 per cent in January, mainly due to a good performance by the electricity, mining and manufacturing sectors, according to official data released on Friday.
There was improvement on an annual as well as sequential basis. Factory output growth as measured in terms of the Index of Industrial Production (IIP) stood at two per cent in January 2022.
According to the IIP data released by the National Statistical Office (NSO), manufacturing sector output grew by 3.7 per cent in January 2023 from 1.9 per cent a year ago.
Mining output grew by 8.8 per cent during the month under review as compared to 3 per cent in January 2022.
Electricity generation also increased by 12.7 percent in January 2023, compared to 0.9 percent in the same month a year ago.
As per use-based classification, the capital goods segment registered a growth of 11 per cent in January as against 1.8 per cent growth in the same month of the previous fiscal.
The production of consumer durables declined by 7.5 percent compared to a contraction of 4.4 percent a year earlier. The production of consumer non-durables increased by 6.2 percent as against the earlier growth of 3.1 percent.
Infrastructure/construction goods also registered a growth of 8.1 per cent as compared to an expansion of 5.9 per cent in the same month of 2022. period of the year before.
Intermediate goods production growth decelerated to 0.1 percent from 2.5 percent earlier. For the first 10 months (April-January) of the current fiscal, the growth in IIP stood at 5.4 per cent, as against 13.7 per cent in the year-ago period.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)