Industrial output, as measured by IIP (Index of Industrial Production), fell 0.6% in the month of January 2021. For April 2021-January 2022, industrial output has clocked a growth of 13.7% versus a contraction of 12% in April 2020-January 2021.
Mining growth rose to 2.8% in January after posting a similar rise (2.6%) in December and dipping 2.4% in the same month the year before.
Manufacturing growth grew 1.1% in January as against a 0.9% contraction in January 2021. Manufacturing growth remained flat in December.
Electricity generation growth in January came in at 0.9% after growing 2.8% in December. In January 2021, electricity generation growth had accelerated to 5.5%.
Data released late last month showed India’s eight core sectors expanded by 3.7% year-on-year in January as against 4.1% the previous month.
The Index of Core Industries measures the output of eight infrastructure sectors: coal, steel, cement, fertiliser, electricity, natural gas, refinery products and crude oil.
Do note, the eight-core industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP), making it a lead indicator of industrial activity.
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