IIP Growth News

The government has also revised the November 2024 industrial output figure to 5 per cent from the provisional estimate of 5.2 per cent released in the previous month.

According to data released by the Ministry of Statistics and Programme Implementation on Friday, in April, the IIP stood at 4.2 percent.

The industry group ‘Manufacture of paper and paper products’ has shown the highest negative growth of 12.2 percent.

Further, it noted that most of the lead indicators -- foreign tourist arrivals, international passenger and air freight traffic, railway traffic and telephone subscribers has showed an uptick in recent months.

The output growth in manufacturing sector, which constitutes 77.63 per cent of the index, however decelerated to 3.1 per cent in August from 5.5 per cent a year ago.

The previous high in IIP growth was recorded at 5.7 percent in November 2016.

The government will be releasing its official figures on GDP growth on Wednesday.

The index of industrial production (IIP) growth was 5.5 percent in March 2016.

Industrial output growth slipped to 2.7 percent in March, chiefly because of poor performance of the manufacturing sector, showed the IIP data based on the revised base year of 2011-12.

Growth in industrial production rose to 2.7 percent in January due to good performance of mining and manufacturing sectors coupled with sharp increase  in output of capital goods.

With industrial production contracting to four-month low of 0.4 percent in December, India Inc on Friday said jobs may be imperiled if the trend continues.

Finance Minister Arun Jaitley on Friday said contraction in industrial production in December was on account of the fallout of demonetisation and expansion was expected in the coming months.

Industrial production contracts 0.4 percent in December 2016 as against a decline of 0.9 percent in the same month a year ago.

Foreign brokerage HSBC on Monday projected sharply lower growth numbers for the year at 6.3 percent, way lower than the official CSO estimate of 7.1 percent for 2016-17.

Industrial production contracted by (-)1.9 percent in October mainly due to poor show by manufacturing and mining sectors coupled with decline in capital goods output.

Pulled down by the poor show by manufacturing and capital goods sectors, the industrial production shrank by 0.8 percent in April in its first decline in three months.

The benchmark BSE Sensex zoomed over 400 points and the broader NSE Nifty reclaimed the 7,800-mark in pre-noon trade Wednesday on the back of positive macroeconomic data and forecast of good monsoon.

Industrial production grew at 2 percent in February after remaining negative for three months and retail inflation dropped to a 6-month low of 4.83 percent in March, reflecting some improvement in the economy and offering further scope to RBI to stay accommodative.