INSUBCONTINENT EXCLUSIVE:
IIP Data: Industrial production grew by 22.4 per cent in March 2021Industrial production grew by 22.4 per cent in March 2021 from a year
a low base effect and strong growth in the manufacturing, mining, and electricity sectors
Ministry of Statistics and Programme Implementation, the indices for the mining, manufacturing, and electricity sectors for March 2021 stand
at 139.0, 140.4, and 180.0 respectively
The manufacturing sector, which comprises 77.63 per cent of the index of industrial production, grew 25.8 per cent in March 2021
The mining sector output also grew 6.1 per cent, while the power generation increased by 22.5 per cent.The output of capital goods - a
barometer of investment, grew 41.9 per cent in March 2021, compared to a contraction of 38.8 per cent in the year-ago period
The production of consumer durables grew 54.9 per cent in March 2021, compared to a 36.8 per cent decline in the year-ago period.Moreover,
the weight of items that are included in the industrial output or the IIP
The growth in the infrastructure output was led by the cement sector, followed by the steel and electricity sectors in March 2021
the base effect with the national lockdown having been announced in the last week of March 2020 and the consequent impact on industrial
Even if we ignore the weaker data for Jan and Feb, the output levels in March 2021 have gone up significantly from those seen in Dec 2020,''
activity in the export-driven sectors and particularly refined petroleum products in March 2021
However, the sustainability of an uptrend in manufacturing is clearly in question due to the expected disruption caused by Covid 2.0 in
April and May 2021,'' added Mr Suman.
