India's industrial production grew 22.4% in March, but on a low base
13 May 2021
Industrial production in the country rose 22.4 per cent year-on-year in March, recording the fastest pace in nine years, quick estimates of the Index of Industrial Production (IIP) released by the ministry of statistics and programme implementation.
The resurgence, however, comes on the back of low base last year, when industrial output declined by 19 per cent,
Production in the mining sector increased by 6.1 per cent in March 2021 against a decline in output of 1,3 per cent in March 2020. Mining production for the April-March 2020-21 period, however, stood -7.8 per cent lower compared with the 1.6 per cent growth in the previous financial year (2019-20).
Manufacturing output increased by 25.8 per cent in March 2021 against a 22.8 per cent decline in output in March 2020. Production for the full fiscal declined by 7.8 per cent against a decline of 1.4 per cent in the 2019-20 financial year.
Electricity generation increased by 22.5 per cent in March 2021 against an 8.2 per cent fall in generation in March 2020 Electricity generation for the financial year was down 0.5 per cent against a 1.0 per cent growth in the 2019-20 financial year.
Primary goods production increased by 7.7 per cent in March 2021, against a 4.0 per cent decline in production in March 2020.
Capital goods production increased by 41.9 per cent in March 2021, against 38.8 per cent decline in growth in March 2020.
Production of intermediate goods increased by 21.2 per cent in March 2021, against an 18.6 per cent fall in production in March 2020.
Production of infrastructure/ construction goods grew 31.2 per cent in March 2021 against a 24.3 per cent decline in production in March 2020.
Consumer durables production increased by 64.9 per cent in March 2021 while production of consumer non-durables grew 27.5 per cent during the month. Consumer durables production declined by 36.8 per cent in March 2020 while production of consumer non-durables had declined by 22.3 per cent during the month.