India’s Industrial Output Grows 3.2 Per Cent in October, Says Govt Data

According to the Index of Industrial Production data by the National Statistical Office, the manufacturing sector's output grew 2 per cent in October

New Delhi: India’s industrial production rose 3.2 per cent in October, according to official data released on Friday.

According to the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output grew 2 per cent in October 2021.

In October, the mining output climbed 11.4 per cent, and power generation increased 3.1 per cent.

The IIP had grown by 4.5 per cent in October 2020.

During April-October this year, the IIP grew 20 per cent against a 17.3 per cent 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.

Last Week, the government published the country’s gross domestic product (GDP) numbers. India’s GDP grew by 8.4 per cent in the second quarter (July-September) of 2021-22 fiscal, compared to a 7.4 per cent contraction a year ago.

This shows that India’s effort to boost consumption through government spending and low-interest rates is paying off, with the economy gaining strength just as a new coronavirus variant emerges as the top threat to a global recovery.

According to the figures issued by the Union ministry of statistics and programme implementation, the GDP at constant prices in Q2 2021-22 is estimated at ₹35.73 lakh crore, as against ₹32.97 lakh crore in Q2 2020-21, showing a growth of 8.4 per cent as compared to the 7.4 per cent contraction in this quarter a year ago.