| Business News |
|
 |
|
|
|
| India's industrial production grew 11.5 per cent in July on low base, recovery |
|
|
 |
New Delhi, India's industrial production rose 11.5 per cent in July, 2021 helped by low base last year due to lockdown restrictions to contain pandemic.
As per Quick Estimates of Index of Industrial Production (IIP) released by National Statistical Office (NSO), manufacturing sector output which accounts for 77.63 per cent of the IIP grew 10.5 per cent while mining surged 19.5 per cent during July.
Electricity generation grew by 11.1 per cent during this period.
The Index of Industrial Production (IIP) in July stood at 131.4. The IIP for the mining, manufacturing and electricity sectors for the month of July 2021 stand at 104.6, 130.9 and 184.7 respectively.
Aditi Nayar, Chief Economist at ICRA said that industrial output in July 2021 trailed the pre-Covid level by a marginal 0.3 per cent on account of the drag imposed by consumer durables on manufacturing, whereas mining and electricity posted a healthy growth relative to their July 2019 levels.
"On an encouraging note, all the use-based categories except consumer durables recovered to or above their pre-Covid levels in July 2021," she said.
The output of capital goods grew 29.5 per cent in July, compared to a decline of 22.8 per cent in the same month last year.
The data showed the output of consumer durables increased 20.2 cent in July this year as against a decline of 23.7 cent in the same month a year ago.
Consumer non-durables output slipped 1.8 per cent in July 2021 compared to a growth of 1.8 per cent in the same month last year.
"The YoY (year-n-year) contraction in consumer non-durables in July 2021 for the second month in a row struck a discordant note, although this was partly driven by an unfavourable base related to restocking after the first wave," ICRA's Nayar said.
|
|
|
 |
|
|
|
|
|