New Delhi: Low base effect, along with rising demand pushed India`s industrial output higher by 11.50 per cent, on a year-on-year basis. The Index of Industrial Production (IIP) for July rose by over 11 per cent from a decline of 10.5 per cent reported for the like month a year ago.
Last year, while the country observed a full-fledged lockdown, the same was partially imposed across different regions of the country.
However, the production rate was flat on a sequential basis.
“For the month of July 2021, the `Quick Estimates of Index of Industrial Production` with base 2011-12 stands at 131.4,” the Ministry of Statistics and Programme Implementation said.
“The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2021 stand at 104.6, 130.9, and 184.7, respectively.”
Among the major use-based segments, the July data, on a YoY basis, showed that manufacturing of primary goods grew by 12.4 per cent from (-) 10.8 per cent, while capital goods production rose 29.5 per cent from (-) 22.8 per cent, and intermediate goods increased by 14.1 per cent from (-) 10.7 per cent.
Similarly, the production of infrastructure or construction goods rose by 11.6 per cent from (-) 8.2 per cent, and consumer durables’ production grew by 20.2 per cent from (-) 23.7 per cent. Also Read: WhatsApp unveils end-to-end encryption for chat backups on iOS, Android: Check details here
However, the sub-segment of consumer non-durables showed a negative growth of (-) 1.8 per cent from a rise of 1.8 per cent. Also Read: Bank Holidays in September: Banks to remain closed for 3 days in a row this week. Check the full list here