India’s Industrial Production Grew By 3.2 Percent In Oct

India’s industrial production grew by 3.2 percent in the month of October, growth in the mining and manufacturing sector.

India’s industrial production has registered an increase. According to official data released on Friday, India’s industrial production has grown by 3.2 percent in the month of October this year.

But it has slowed down compared to the month of September.

According to the data of the Index of Industrial Production (IIP) released by the National Statistical Office (NSO), in October 2021, the production of the manufacturing sector had seen an increase of up to 2 percent.

Whereas, during October, there was an increase of 11.4 percent in mining production.

Apart from this, there has been an increase of 3.1 percent in electricity generation. Last year, the country’s industrial production grew by 4.5 percent in October 2020.

Whereas, during April-October this year, IIP grew by 20 percent against a contraction of 17.3 percent in the same period last year.

In April 2020, there was a 57.3 percent reduction in industrial production due to the decline in economic activity due to the lockdown imposed to prevent the spread of coronavirus infection.

Industrial production is measured by IIP (Index of Industrial Production).

Industrial production was expected to increase by 4 percent during the month of October. The quick estimate of IIP for the month of October 2021 stood at 133.7.

Industrial production has been growing for the past few months mainly due to a lower base than last year, but the latest data shows that the base effect is easing.

Last year, due to the lockdown imposed due to Coronavirus, there was an impact on the production of companies, due to which the pace of the economy was also affected.

Apart from this, due to the restrictions imposed last year, there was a decrease in the production of factories.