Index of Industrial Production in India grows 3.2 percent in October
The country’s Index of Industrial Production (IIP), grew 3.2 percent in October. In September, Industrial production had risen 3.1 percent.
Among the major sectors, the mining index in October gained 11.4 percent, and Electricity index advanced three percent. The manufacturing index rose 2 percent.
IIP has maintained significant growth from March 2021 onwards, aided by a continuing low base effect last year.
IIP is a key economic indicator of the manufacturing sector. The Eight Core Industries, Electricity, steel, refinery products, crude oil, coal, cement, natural gas, and fertilizers comprise more than 40 percent of the weight of items included in the Index of Industrial Production.