New Delhi: India’s industrial production grew 2.4 per cent in November 2023. Data released by the National Statistical Office (NSO) revealed this. Factory output measured in terms of the Index of Industrial Production (IIP) had grown by 7.6 per cent in November 2022.
The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew by 1.2 per cent in November 2023. The manufacturing sector makes up over 75% of the Index of Industrial Production (IIP).
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The mining production rose 6.8 per cent during the month under review. Power output rose 5.8 per cent. The IIP grew by 6.4 per cent in April-November 2023 compared to a 5.6 per cent expansion a year ago.
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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