Factory output surges 11.7% to 16-mth high
Double-digit growth in production of manufacturing, power and mining sectors in Oct
Gaining Steam
- Previous high was 12.6% in June 2022
- IIP grew 6.9% during Apr-Oct
New Delhi: India’s industrial production growth accelerated to 16-month high of 11.7 per cent in October, mainly due to double-digit growth in manufacturing, power and mining sectors’ output, according to the official data released on Tuesday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had contracted by 4.1 per cent in October 2022.
The previous high of IIP growth was recorded at 12.6 per cent in June 2022. During April-October 2023-24, the IIP growth works out to be 6.9 per cent, up from 5.3 per cent in the corresponding period a year ago. The IIP for September 2023 was revised to 6.2 per cent from provisional estimates of 5.8 released last month.
“India’s IIP growth rate rises to a 16-month high of 11.7 per cent in October 2023,” an official statement said.
