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Industrial production grows 1.4% in November

Industrial production grows 1.4% in November

The IIP growth remain subdued for the second straight month, expanding by 3.2% in October last month, owing to the waning low base effect while mining, power and manufacturing sectors performed well. 

The factory output in the country had contracted at 1.9% in November 2020. The factory output in the country had contracted at 1.9% in November 2020.

The Index of Industrial Production (IIP) for November 2021 expanded by 1.4% in November as supply shortages continued to cripple factory production, showed the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday.  

As per the IIP data by the National Statistical Office (NSO) under MoSPI, the manufacturing sector's output grew 0.9 per cent in November last year. 

The IIP growth remain subdued for the second straight month, expanding by 3.2% in October last month, owing to the waning low base effect while mining, power and manufacturing sectors performed well.

Also Read: Eight core sectors' output up 3.1% in November

In November 2021, the mining output climbed five per cent, and power generation increased 2.1 per cent. The IIP had contracted by 1.6 per cent in November 2020.

During April-November this fiscal, the IIP grew 17.4 per cent against a 15.3 per cent contraction in the same period last year.

Industrial production has been hit due to the coronavirus pandemic since March 2020, when it had contracted 18.7 per cent.

It shrank 57.3 per cent in April 2020 due to a decline in economic activities in the wake of the lockdown imposed to curb the spread of coronavirus infections. 

Also Read: Industrial production grows 3.1% in September as low base effect wanes

Published on: Jan 12, 2022, 5:40 PM IST
Posted by: Manali, Jan 12, 2022, 5:26 PM IST