Govt data showed that output, measured by the Index of Industrial Production (IIP), grew 2.2 per cent in October
New Delhi :India’s industrial production growth hit a three-month low of 2.2 per cent in October this year, mainly due to a subdued performance of manufacturing and mining sectors coupled with a contraction in the output of consumer durables, government data showed on Tuesday. When compared on a monthly basis, the Index of Industrial Production (IIP) grew 4.14 per cent in September this year.
The factory output, measured in terms of the IIP, had witnessed a rise of 4.2 per cent in October 2016, data released by the Central Statistics Office (CSO) showed. Industrial output rose by a meagre 2.5 per cent in April-October this fiscal as compared to 5.5 per cent in the same period of 2016-17. In October, growth in the manufacturing sector, which accounts for 77.63 per cent of the index, slowed to 2.5 per cent from 4.8 per cent a year ago. During the April-October period, manufacturing grew by 2.1 per cent, down from 5.9 per cent in the same period of the previous fiscal.
Consumer durable goods output contracted by 6.9 per cent in October as against a growth of 1.5 per cent in the same month of the previous year. During the first seven months of the ongoing fiscal, the output of these goods declined by 1.9 per cent as against a growth of six per cent last year. Electricity generation rose 3.2 per cent in October as compared to three per cent a year ago.
Mining activity recorded almost flat growth of 0.2 per cent in the month under review as against a one per cent growth in October 2016. According to the use-based classification, the growth rates in October 2017 over the year-ago month are 2.5 per cent in primary goods, 6.8 per cent in capital goods, 0.2 per cent in intermediate goods and 5.2 per cent in infrastructure/construction goods. The consumer non-durables have recorded a growth of 7.7 per cent. In terms of industries, 10 out of 23 industry groups in the manufacturing sector logged positive growth in October 2017 as compared to the corresponding month of the previous year. The industry group ‘Manufacture of pharmaceuticals, medicinal chemical and botanical products’ showed the highest positive growth of 23 per cent followed by 12.8 percent by the ‘Manufacture of motor vehicles, trailers and semi- trailers’ group and 9.7 per cent by the ‘Manufacture of computer, electronic and optical products’ group.
On the other hand, the industry group ‘Other manufacturing’ has shown the highest negative growth of 36.4 per cent, reports PTI.
