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India’s industrial production rises 11.5% in July

India’s Indices of Industrial Production (IIP) rose 11.5% in July, driven on a contract basis. However, it effectively closed the gap with pre-pandemic levels and remained slightly below the July 2019 figures, with a gradual phase of industrial activity due to the mitigation of curbs in major states following the decline of the second wave. Shows a good recovery.

With the exception of consumer durables, all other usage-based categories have rebounded above pre-Covid levels. Capital goods, which are substitutes for investment, increased by 29.5% year-on-year in July, returning to pre-pandemic levels. Durable consumer goods also replenished after the first wave, despite a 1.5% year-on-year decline in durable consumer goods).

However, durable consumer goods are 8.3% below pre-pandemic levels, despite a 20.2% year-on-year increase due to the underlying impact.

Mining, manufacturing and electricity grew 19.5%, 10.5% and 11.1%, respectively, according to a press release from the Ministry of Statistics and Program Implementation. This is due to a favorable basic effect. Manufacturing fell 2.1% from pre-pandemic levels.

Fiber2Fashion News Desk (DS)

India’s Mining and Industry Production Index rose 11.5% in July, driven on a contract basis. However, it effectively closed the gap with pre-pandemic levels and remained slightly below the July 2019 figures, with a gradual phase of industrial activity due to the mitigation of curbs in major states following the decline of the second wave. Shows a good recovery.



India’s industrial production rises 11.5% in July

Source link India’s industrial production rises 11.5% in July

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