Industrial Production of India rises by 3.1% in Sept

New Delhi, Nov 12 (KNN) In September the Index of Industrial Production (IIP) saw a growth of 3.1 per cent, as per the data released by Ministry of Statistics & Programme Implementation (MoSPI).

The growth in India's factory output was primarily owing to a rise in manufacturing and mining outputs.

The IIP had grown 4.4% in September 2021 and had contracted (-)0.8% on-year to 131.3 in August. 

In July 2022, the IIP had risen by 2.2%.

According to the government data, the output of the manufacturing sector rose 1.8% in September 2022 as against an 4.3% growth recorded in the year-ago period, as per latest data from the National Statistical Office (NSO).

Mining output went up to 4.6%. Power generation, on the other hand, was up 11.6% during the month.

IIP is an index that details the growth of various sectors in the economy. 

This macroeconomic data shows the state of various critical economic sectors.

The performance of the core industries is key to industrial growth as they make up around 40% of the IIP. 

These are electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers.

The Central Government will release the consumer price index (CPI) and wholesale price index (WPI) data for October next week.  (KNN Bureau)