New Delhi: India’s industrial output (IIP) grew the highest at 19.6 per cent in May 2022, the highest in a year, due to the strong performance of manufacturing, power and mining sectors, according to government data released on Tuesday.
Factory output, measured in terms of the Index of Industrial Production (IIP), registered a growth of 27.6 per cent in May 2021 due to a lower base effect, the data showed.
According to data released by the Ministry of Statistics and Program Implementation, the manufacturing sector expanded by 20.6 per cent compared to a growth of 32.1 per cent recorded in the year-ago period.
The power sector showed a growth of 23.5 per cent as compared to 7.5 per cent a year ago, while the mining sector saw a growth of 10.9 per cent in May 2022 as compared to a growth of 23.6 per cent in the previous year.
IIP grew by 12.9 per cent during April-May this year as against 67.3 per cent in the same period a year ago.
Production of capital goods, which is a barometer of investment, showed a growth of 54 per cent in May 2022 against a jump of 74.9 per cent in the year-ago month.
The consumer durables segment grew at 58.5 per cent as against a growth of 80.4 per cent a year ago.
The primary articles segment, which accounts for about 34 per cent of the index, grew 17.7 per cent in May, from 15.8 per cent a year ago.
The consumer non-durables segment grew by 0.9 per cent in May, compared to a growth of 0.2 per cent in the same month a year ago.
The Ministry said that in view of the unusual circumstances due to the Kovid-19 epidemic from March 2020, the growth rate of the corresponding period last year has to be explained.
The IIP for the month of April has been revised to 6.7 per cent from the provisional estimate of 7.1 per cent released in June.
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