NEW DELHI: India’s industrial production in October rose to 16-month high of 11.7%, marking a recovery from last year’s contraction of 4.1% , according to the data released by Ministry of Statistics & Programme Implementation (MOSPI).
In September, output had grown 5.8%. The Index of Industrial Production (IIP), which measures factory output, stood at 144.7 for October 2023 based on Quick Estimates of IIP using 2011-12 index. Data from the National Statistical Office (NSO) revealed that the manufacturing sector’s output grew by 10.4% in October 2023, a significant improvement from the contraction of 5.8% in the same month last year. In September, manufacturing output had grown by 4.5%.
The mining sector exhibited notable growth, with output rising 13.1% in October, surpassing the 2.6% growth recorded in the same period last year. In September, mining output had grown by 11.5%. Additionally, the electricity sector experienced a substantial growth, with a 20.4% jump in October as against a modest 1.2% growth in the corresponding month of the previous year.