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India`s industrial output grows 2% in January 2020
The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of January 2020 stands at 137.1.
New Delhi: India's industrial output rose 2 per cent in January from a year earlier, according to the Index of Industrial Production (IIP) data released by the government on Thursday (March 12). The cumulative growth for the period April-January 2019-20 over the corresponding period of the previous year stands at 0.5 percent.
The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of January 2020 stands at 137.1, said the statement.
According to the statement, the Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of January 2020 stand at 124.3, 137.6 and 155.6 respectively, with the corresponding growth rates of 4.4 percent, 1.5percent and 3.1 percent as compared to January 2019.
The cumulative growth in these three sectors during April-January 2019-20 over the corresponding period of 2018-19 has been 1.0 percent, 0.3percent and 0.9percentrespectively.
In terms of industries, 11 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of January 2020 as compared to the corresponding month of the previous year.
The industry group ‘Manufacture of tobacco products’ has shown the highest positive growth of 22.8 percent followed by 14.1 percent in ‘Manufacture of basic metals’ and 9.0 percent in ‘Manufacture of furniture’. On the other hand, the industry group ‘Printing and reproduction of recorded media’ has shown the highest negative growth of (-) 16.3 percent followed by (-) 11.6 percent in ‘Manufacture of computer, electronic and optical products’ and (-) 10.6 percent in ‘Manufacture of motor vehicles, trailers and semi-trailers’.
As per use-based classification, the growth rates in January 2020 over January 2019 are 1.8 percent in Primary goods, (-) 4.3 percent in Capital goods, 15.8 percent in Intermediate goods and (-) 2.2 percent in Infrastructure/ Construction Goods (Statement III).
The Consumer durables and Consumer non-durables have recorded growth of (-) 4.0 percent and (-) 0.3percent respectively.
Along with the Quick Estimates of IIP for the month of January 2020, the indices for December 2019 have undergone the first revision and those for October 2019 have undergone the final revision in the light of the updated data received from the source agencies.