India’s industrial output rose to 4.2% in April 2023

New Delhi, June 14 (KNN) India’s factory output recorded a growth of 4.2 per cent in April from 1.7 per cent in March 2023, according to the data released by National Statistical Office (NSO) on Monday.

The primary reason for the rise is due to the good performance by the manufacturing and mining sectors.

The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 6.7 per cent in April 2022.

As per the data, the manufacturing sector's output grew 4.9 per cent in April 2023 against a 5.6 per cent expansion a year ago.

Power generation declined 1.1 per cent in April 2023 compared to a growth of 11.8 per cent.

However, the Mining output rose by 5.1 per cent during the month under review against a growth of 8.4 in the year-ago period.

The data pointed out that consumer durables output during the month declined by 3.5 per cent against a 7.2 per cent growth a year ago.

Consumer non-durable goods outputs also grew 10.7 per cent against a contraction of 0.8 per cent a year earlier.

Infrastructure/construction goods posted a growth of 12.8 per cent compared to a 4 per cent expansion in the same period a year ago.

The data also showed that the output of primary goods logged 1.9 per cent growth in the month against 10.3 per cent in the year-ago period.

The intermediate goods output in April grew by 0.8 per cent compared to a 7.1 per cent growth during the corresponding month last year.

For fiscal 2022-23, the growth in IIP works out to be 5.2 per cent, down from 11.4 per cent in the preceding year.  (KNN Bureau)