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Industrial production grows at a year-high of 19.6% in May

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NEW DELHI: India’s industrial production (IIP) grew the highest in a year at 19.6 per cent in May 2022, mainly due to strong performance by manufacturing, power and mining sectors, according to the government data released on Tuesday.
Factory output, measured in terms of Index of Industrial Production (IIP), had recorded a growth of 27.6 per cent in May 2021 due to low base effect, the data showed.
As per the data released by the ministry of statistics and programme 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.
Power sector showed a growth of 23.5 per cent as against 7.5 per cent a year ago, while the mining sector witnessed an expansion of 10.9 per cent in May 2022 compared to a growth of 23.6 per cent last year.
During April-May this year, IIP grew 12.9 per cent as against 67.3 per cent growth in the same period a year ago.
Capital goods output, 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 by 58.5 per cent against a growth of 80.4 per cent a year ago.
The primary goods segment, which accounts for nearly 34 per cent of the index, expanded by 17.7 per cent in May compared to 15.8 per cent growth a year ago.
Consumer non-durable segment grew by 0.9 per cent in May compared to a growth of 0.2 per cent in same month a year ago.
The ministry said the growth rates over the corresponding period of previous year are to be interpreted considering the unusual circumstances on account of Covid-19 pandemic since March 2020.
The IIP for the month of April has been revised to 6.7 per cent from provisional estimates of 7.1 per cent released in June.


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