India’s industrial production rises by 5.2 in january 2022

Photo used for representation purpose only.

India’s industrial production growth perked up slightly to 5.2% in January from 4.7% in December 2022, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on March 10, 2023.

There was an improvement on an annual as well as sequential basis. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2% in January 2022.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 3.7% in January 2023 from 1.9% a year ago.

Mining output rose 8.8% during the month under review compared to 3% in January 2022.

Power generation also surged 12.7% in January 2023 against 0.9% in the year-ago month.

As per use-based classification, the capital goods segment recorded a growth of 11% in January against a growth of 1.8% in the corresponding month of the last fiscal.

Consumer durables output declined by 7.5% compared to a contraction of 4.4% a year ago.

Consumer non-durable goods output expanded by 6.2% against a growth of 3.1% earlier.

Infrastructure/construction goods too posted a growth of 8.1% compared to a 5.9% expansion in the same month of 2022.

The data also showed that the output of primary goods logged 9.6% growth in the month against 1.6% in the year-ago period.

The intermediate goods output growth decelerated to 0.1% from 2.5% earlier.

For the first 10 months of the current fiscal (April-January), the growth in IIP works out to be 5.4%, down from 13.7% in the year-ago period.