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India's factory output growth, measured as per the Index of Industrial Production (IIP), accelerated to 1.9 per cent in March 2022 from 1.5 per cent in the previous month, the government data showed on Thursday.
For the full year 2021-22, industrial production has posted a growth of 11.3 per cent. This is largely due to the low base. The factory output had contracted by more than 8 per cent in 2020-21. In March 2021, Industrial production had soared by 24.2 per cent. Manufacturing, which has 77.63 per cent weight in the IIP, grew by just 0.9 per cent in March year-on-year. Electricity rose by 6.1 per cent while mining posted a growth of 4 per cent during the month, as per data released by the Ministry of Statistics & Programme Implementation. For the month of March 2022, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 148.3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of March 2022 stand at 144.6, 144.6 and 191.0 respectively, the ministry said in a statement. As per use-based classification, the indices stand at 153.3 for Primary Goods, 110.0 for Capital Goods, 154.8 for Intermediate Goods and 170.5 for Infrastructure/ Construction Goods for the month of March 2022. Further, the indices for Consumer durables and Consumer non-durables stand at 128.8 and 149.3 respectively for the month of March 2022. (ANI)
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