IIP Growth Recovers To 1.3% In January

After hitting a 10-month low in December, India's Index of Industrial Production grew 1.3 per cent in January from 0.7 percent in December, according to data released by the Ministry of Statistics and Programme Implementation (MosPI) on Friday.

Data released late last month showed India's eight core sectors expanded by 3.7 percent year-on-year in January as against 4.1 percent the previous month. 

With the eight core industries together accounting for 40.3 percent of the total weight of the IIP, IIP growth tends to track core sector data.

The manufacturing sector, which makes up over three-fourths of the IIP, grew by 1.1 per cent in the first month of 2022 compared to a contraction of 0.9 per cent in the year-ago month.

The Index of Industrial Production (IIP) had contracted by 0.6 per cent in January 2021.

The growth in the mining sector was 2.8 per cent against a  contraction of 2.4 per cent in January 2021.

 However, growth in power generation decelerated to 0.9 per cent as against an expansion of 5.5 per cent in January 2021.

In the April-January period of the current fiscal, the IIP growth stood at 13.7 per cent against a contraction of 12 per cent in the corresponding period of 2020-21.