New Delhi/Chennai, March 10 (SocialNews.XYZ) India's industrial output or index of industrial production (IIP) went up by 5.2 per cent in January, according to data released on Friday by the Ministry of Statistics. It was 4.7 per cent in December 2022.
For the April-January period of 2022-23, IIP growth was 5.4 per cent, down from 13.7 per cent recorded during the corresponding period of last year.
The manufacturing output rose by 3.7 per cent in January 2023, up from 3.1 per cent in December 2022; electricity production was also higher by 12.7 per cent in January 2023 compared to an increase of 10.4 per cent in December 2022.
Mining output growth though was 8.8 per cent in January 2023, down from 10 per cent growth recorded in December 2022.
Reacting to the industrial output growth in January, Rajani Sinha, Chief Economist, CARE Ratings, told IANS: "Positive momentum effect continued to support the industrial activity for the third consecutive month. Export-intensive items like textiles, leather and apparels continued to witness contraction in output. Expansion in the consumer non-durable goods output for the third consecutive month is a positive development."
Sinha said that resilient urban demand, easing commodity prices and improvement in the rural demand are tailwinds for industrial output.
"Going ahead, factors like high inflation, rising interest rates, weak external demand and waning domestic pent-up demand pose downside risks for the momentum in industrial activity," she added.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
