India's industrial output grows by 4.5% in February 2020
Business & Economy

India's industrial output grows by 4.5% in February 2020

NetIndian News Network

New Delhi, April 9, 2020

India's industrial output grew by 4.5 per cent in February 2020 as compared to the level in the same month of the previous year, official data released here today said.

An official press release, citing the data, said the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for February 2020 stood at 133.3.

Industrial production had grown by 2 per cent in January 2020.

The cumulative growth for the period April-February 2019-20 over the corresponding period of the previous year stood at 0.9 percent.

According to the release, the Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for February 2020 stood at 123.7, 133.5 and 149.1, respectively, with corresponding growth rates of 10.0%, 3.2% and 8.1%, as compared to February 2019.

The cumulative growth in these three sectors during April-February 2019-20 over the corresponding period of 2018-19 was 1.9%, 0.6% and 1.5%, respectively.

The release said 13 of the 23 industry groups in the manufacturing sector showed growth during February 2020 as compared to the corresponding month of the previous year.

The industry group ‘Manufacture of basic metals’ showed the highest growth of 18.2% followed by 8.0% in ‘Manufacture of chemicals and chemical products’ and in ‘Manufacture of other non-metallic mineral products’. On the other hand, the industry group ‘Manufacture of motor vehicles, trailers and semi-trailers’ showed the highest negative growth of (-) 15.6% followed by (-) 14.8% in ‘Manufacture of computer, electronic and optical products’ and (-) 9.9% in ‘Manufacture of fabricated metal products, except machinery and equipment’.

The growth rates in February 2020 over February 2019 were 7.4% in Primary goods, (-) 9.7% in Capital goods, 22.4% in Intermediate goods and 0.1% in Infrastructure/ Construction Goods. Consumer durables and consumer non-durables recorded growth of (-) 6.4% and 0.0%, respectively.

NNN

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