India’s Industrial Output Rises 0.7 Per Cent In September

India's factory output inched up by 0.72 per cent in September from a deceleration of (-) 0.67 per cent in August and a 3.7 per cent rise in the corresponding month of last year, official data showed on Friday.

As per the data on Index of Industrial Production (IIP) released by the Central Statistics Office (CSO), the marginal growth was mainly on account of a 0.9 per cent rise in manufacturing output, which also has the maximum weight in the overall index. Among the other two major sub-indices, electricity generation rose by 2.4 per cent, while that for mining declined by (-) 3.1 per cent.

The cumulative growth of the country's factory output declined by (-) 0.1 per cent in the first six months of the current fiscal year. Cumulative growth during the corresponding period of last fiscal stood at 4 per cent.

In addition, the data revealed that among the six use-based classifications of the index, the output of consumer durables segment expanded by 14 per cent in September. The consumer goods segment's output increased by 6 per cent, whereas the consumer non-durables segment inched up by 0.1 per cent. However, capital goods segment, which is a key indicator of economic activity plunged by (-) 21.6 per cent.

The basic and intermediate goods' output rose by 4 per cent and 2.2 per cent, respectively. Overall, only 12 out of the 22 industry groups in the manufacturing sector have shown negative growth during the month under review.

Segment-wise, growth was witnessed in ‘woollen carpets' (149.2 per cent), ‘ship building and repairs' (81.4 per cent), ‘instant food mixes (ready to eat)' (51.4 per cent), and ‘scooter and mopeds' (27.4 per cent). Moreover, high negative growth was reported in the 'cable, rubber insulated' ((-) 85.8 per cent), 'sugar machinery' ((-) 59.1 per cent), and 'leather garments' ((-) 20.6 per cent).

With inputs from IANS