India’s industrial production down 0.1% in March

Quick estimates of the Index of Industrial Production (IIP) with base 2011-12 for March 2019 showed a 0.1 per cent fall in industrial production compared to the level in March 2018. Cumulative growth for the April-March 2018-19 period stood at 3.6 per cent.

Production in the mining, manufacturing and electricity sectors showed growth rates of 0.8 per cent, (-) 0.4 per cent and 2.2 per cent, respectively, in March 2019. The three sectors showed cumulative growth rates of 2.9 per cent, 3.5 per cent and 5.2 per cent, respectively, during the full fiscal.

Twelve out of the 23 industry groups in the manufacturing sector showed negative growth during March 2019 compared to the corresponding month of the previous year (. The industry group ‘manufacture of furniture’ ‘has shown the highest negative growth of (-) 24.6 per cent, followed by ‘manufacture of other transport equipment’ (-) 18.5 per cent and ‘manufacture of fabricated metal products, except machinery and equipment’ (-) 15.3. 

On the other hand, the industry group ‘manufacture of tobacco products’ showed the highest positive growth of 13.5 per cent followed by 10.6 per cent in ‘manufacture of computer, electronic and optical products’ and 9.3 per cent in ‘manufacture of wood and products of wood and cork, except furniture; articles of straw and plaiting materials’.

Primary goods production increased 2.5 per cent in March 2019, while production of capital goods showed a negative growth of (-) 8.7 per cent and intermediate goods grew (-) 2.5 per cent. Production in the infrastructure / construction goods sector grew 6.4 per cent in March 2019.

Production of consumer durables and consumer non-durables showed growth rates of (-) 5.1 per cent and 0.3 per cent, respectively.