Industrial production picked up, grew by 3.1% in September

India’s industrial output grew 3.1 per cent in September, driven by manufacturing, mining and power sectors, according to official data released on Friday.

In the last month (August 2022), there was a decrease of 0.7 percent in factory production. It increased by 2.2 per cent in July this year.

Factory output, measured in terms of the Index of Industrial Production (IIP), grew by 4.4 per cent in September 2021.

According to the data released by the Ministry of Statistics and Program Implementation, the manufacturing sector grew by 1.8 per cent in September 2022, as against 4.3 per cent in the year-ago period.

The power sector showed a growth of 11.6 per cent as against a growth of 0.9 per cent a year ago. The mining sector also witnessed a growth of 4.6 per cent in September 2022 as against 8.6 per cent growth in the same month a year ago.

During April-September this year, IIP grew by 7 per cent as against 23.8 per cent expansion in the same period of 2021-22.

Capital goods output, which is a measure of investment, grew by 10.3 per cent in September 2022, as against a growth of 3.3 per cent in the same month last year.

The consumer durables segment decelerated to 4.5 per cent from the earlier growth of 1.6 per cent.

The primary goods segment, which accounts for about 34 per cent of the index, grew 9.3 per cent in September, a rise of 4.6 per cent in the year-ago period.

The growth rate over the corresponding period of the previous year has to be interpreted in view of the unusual circumstances since March 2020 due to the COVID-19 pandemic, the ministry said.