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India’s industrial production grows by 5.2% in January

New Delhi: Data released by the National Statistical Office (NSO) revealed that the  industrial production growth in the country surged by 5.2% in January this year. It was at  4.7% in December 2022. The good performance of the power, mining and manufacturing sectors supported the upward rally of industrial production growth.

The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2% in January 2022. As per the IIP the manufacturing sector’s output grew 3.7% in January 2023 from 1.9% a year ago. Mining output rose 8.8% during the month under review compared to 3% in January 2022.

Also Read: India’s foreign exchange reserves rose to $562.40 billion 

Power generation also surged 12.7% in January 2023 against 0.9% in the year-ago month. As per use-based classification, the capital goods segment recorded a growth of 11% in January, 2023. It was at  1.8% in the corresponding month of the last fiscal. Consumer durables output declined by 7.5% compared to a contraction of 4.4% a year ago. Consumer non-durable goods output expanded by 6.2% against a growth of 3.1% earlier.

Infrastructure/construction goods reported  a growth of 8.1% compared to a 5.9% expansion in the same month of 2022. The output of primary goods logged 9.6% growth in the month against 1.6% in the year-ago period.



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