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After Covid Slump, India’s Industrial Production Shows Strong Pickup , Rises 3.6% In October, Says IIP Data

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India’s Industrial production rose 3.6 per cent in October, mainly due to better performance of manufacturing and electricity generation sectors, official data showed in a a report by PTI  .

According to the Index of Industrial Production (IIP) data, manufacturing and electricity generation sectors registered a growth of 3.5 per cent and 11.2 per cent, respectively.

The mining sector witnessed a contraction of 1.5 per cent in October. The IIP had contracted by 6.6 per cent in October 2019.

Industrial production declined by 10.4% in July, mainly due to lower output of manufacturing, mining and power generation, as per the government data released in September 2020. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 11.1%, while the output of mining and power fell 13% and 2.5%, respectively.

“In view of the preventive measures and announcement of nationwide lockdown by the government to contain the spread of COVID-19 pandemic, a large number of the industrial sector establishments were not operating from the end of March 2020 onwards. This has had an impact on the items being produced by the establishments during the period of lockdown. With the lifting of restrictions in the subsequent periods, industrial activity is resuming,” the Ministry of Statistics and Programme Implementation said in a press release.

Before the COVID pandemic India’s industrial production grew at its fastest pace in seven months in February, rising 4.5% as compared to a 2.1% increase in January. Industrial production for April 2019 to February 2020 period grew 0.9% over the corresponding period in the previous year, the data showed.

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