New Delhi: India’s industrial production growth rose to a 16-month high in October. Industrial production growth rate touched 11.7% in October against a contraction of 4.1% in the same period a year ago. Data released by the National Statistical Office (NSO) revealed this.
Factory output is measured in terms of the Index of Industrial Production (IIP). IIP is an index that details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40% of the weight of items included in IIP. These Eight Core Industries are Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.
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The manufacturing sector’s output grew by 10.4% in October 2023 while Mining production rose 13.1% during the month under review. Power output rose 20.4%. The IIP grew by 6.9% in April-October 2023 compared to 5.3% growth a year ago.
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