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

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

During April-August this year, the IIP grew 28.6% against a 25% contraction in the same period last year.

The IIP stood at 123.2 in September last year. It rose 11.9% in August 2021. The IIP stood at 123.2 in September last year. It rose 11.9% in August 2021.

India's industrial production grew by 3.1%  in September as compared to 1% in the same month last year, according to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO) on Friday.

The IIP continued to stabilise in the said month on account of the waning low base effect.

It stood at 127.9 in September 2021as against 123.2 in the corresponding period last year. IIP surged 11.9% in August 2021.

Also Read: IIP to grow by 10.5% in October; rupee expected to depreciate further: Dun & Bradstreet economic forecast

The mining output during September grew by 8.6%, whereas the manufacturing sector jumped 2.7%.

The electricity generation in September was up 0.9%. Industrial production has been rising for the past few months primarily due to the low base of last year, however, the latest print indicates its effect is ebbing.

During April-August this year, the IIP grew 28.6% against a 25% contraction in the same period last year.
Industrial production has been hit due to the coronavirus pandemic since March last year 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: India's core industries grew 4.4% in Sept 2021