The Index of Industrial Production (IIP) in India increased to 1.3 percent in January from 0.7 percent in December, according to data released on March 11 by the National Statistical Office.
In January 2021, industrial output fell 0.6 percent, according to the IIP (Index of Industrial Production). Industrial output increased by 13.7 percent from April 2021 to January 2022, compared to a contraction of 12 percent from April 2020 to January 2021.
The marginal increase in industrial growth is not surprising. According to data released late last month, India’s eight core sectors expanded by 3.7 percent year on year in January, compared to 4.1 percent the previous month. IIP growth tends to track core sector data, with the eight core industries accounting for 40.3 percent of the total weight of the IIP.
The manufacturing sector, which accounts for more than three-quarters of the IIP, grew by 1.1 percent in the first month of 2022, with the figure for December revised to a 0.2 percent increase from a 0.1 percent contraction.
For the month of January 2022, the indices for Primary Goods are 136.5, Capital Goods are 91.9, Intermediate Goods are 151.1, and Infrastructure/ Construction Goods are 158.2. Furthermore, for the month of January 2022, the indices for Consumer durables and Consumer non-durables are 119.8 and 152.9, respectively.
