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India’s industrial production growth slips to 5-month low

New Delhi: Industrial production growth  in India slipped to 5-month low of 1.1% in March. It was at 5.8% in February 2023. As per data, the poor performance of power and manufacturing sectors is the main reason for this. The previous lowest level of growth was recorded in October 2022 at a contraction of 4.1%.

The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 2.2% in March 2023. The manufacturing sector’s output grew 0.5% in March 2023 as against 1.4% a year ago.

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Power generation declined by 1.6% in March 2023 against a growth of 6.1%. Mining output rose by 6.8% compared to a growth of 3.9% in the year-ago period.

 

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