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Industrial Growth Retains Double-Digit Level for Second Month in June at 12.3%

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Industrial Growth Retains Double-Digit Level for Second Month in June at 12.3%

According to official data issued on Friday, India’s industrial production increased by double digits for the second consecutive month in June, at 12.3%, mostly because of the manufacturing, electricity, and mining sectors’ robust performance.
The figures revealed, however, that the increase in industrial output was less than the 19.6% recorded in May of this year. The percentage in April was 6.7%.

According to the data, factory output as expressed by the Index of Industrial Production (IIP) has increased by 13.8% in June 2021.

According to the Statistics and Programme Implementation Ministry’s figures, the manufacturing sector grew by 12.5% in June 2022 compared to 13.2% in the same month the previous year.

In June 2022, the mining industry saw a rise of 7.5% compared to a growth of 23.1% the previous year, while the power sector experienced growth of 16.4% as opposed to 8.3%.

IIP gained 12.7% between April and June of this year as opposed to 44.4% growth during the same time last year.

The production of capital goods, which serves as a gauge of investment, increased by 26.1% in June 2022 compared to 27.3% in the corresponding month in the previous year.

The power sector experienced growth of 16.4% as opposed to 8.3%, while the mining industry saw growth of 7.5% as opposed to a growth of 23.1% in June 2021.

Compared to a surge of 44.4% during the same period last year, IIP climbed by 12.7% between April and June of this year.

The output of capital goods, a crucial measure of investment, grew by 26.1% in June 2022 compared to June 2021.

According to the ministry, the increase rates compared to the same period last year should be evaluated in light of the extraordinary circumstances brought on by the COVID-19 pandemic, which has been going on since March 2020.

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