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India’s industrial output accelerates due to expansion in manufacturing sector

By NewsGram Staff Writer

New Delhi: An official data on Friday showed that India’s factory output growth has increased to 4.2 percent in July from a rise of 3.8 percent a month before in a rapid expansion in the manufacturing sector.

In the corresponding month of 2014, the industrial output had inched up by 0.9 percent.

With the maximum weightage in the Index of Industrial Production (IIP), the manufacturing sector expanded by 4.7 percent in July from a rise of 4.6 percent in June and a decline of 0.3 percent in the corresponding month of 2014.

industry-525119_640This rise in the industrial growth for the month of July was seen due to a jump in the overall manufacturing sector’s output, according to the Central Statistics Office (CSO), which released the data on the IIP.

The mining sector’s output had declined by 0.3 percent in June. However, in July, it rose by 1.3 percent from a slight increase of 0.1 percent in the corresponding month last year.

While the mining sector showed a good sign, the surge in the electricity sector was considerably low as compared to the data of July 2014. Last year, the rise in electricity sector was 11.7 percent. This year, the sector’s yields accelerated to 3.5 percent last month from a 1.3 percent growth in June.

The overall industrial output was however slower than the output last year. The period of April-July 2015 saw a rise of only 3.5 percent from an increase of 3.6 percent in the months of April-July 2014.

The mining sector’s cumulative output in the period under review inched up by 0.6 percent. On the whole, the manufacturing sector swelled by 4.00 percent, while the electricity sector expanded by 2.6 percent.

(With inputs from IANS)

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