Industrial production grows at 12.3 per cent in June

Indian industrial production grew in double digits for the second consecutive month at 12.3 percent in June, mainly due to the strong performance of the manufacturing, energy and mining sectors, according to official data released on Friday. However, the data showed that the industrial output growth is lower than the 19.6 percent recorded in May this year. It was 6.7 percent in April.

Factory production is expanding

The data showed that factory production, measured by the Industrial Production Index (IIP), expanded by 13.8 percent in June 2021. Data released by the Ministry of Statistics and Program Implementation showed that the manufacturing sector grew by 12.5 percent in June 2022 compared to 13.2 percent. registered in the same period last year.

The energy sector showed a growth of 16.4 percent compared to 8.3 percent a year ago, while the mining sector witnessed an expansion of 7.5 percent in June 2022 compared to a growth of 23.1 percent last year. During the period from April to June of this year, international investment investment grew by 12.7 percent, compared to 44.4 percent in the same period last year.

Production of capital goods, a measure of investment, increased by 26.1 percent in June 2022, compared to 27.3 percent in the previous month. The consumer durables sector grew by 23.8 percent, compared to 28 percent a year earlier.

The commodities sector, which accounts for nearly 34 percent of the index, expanded 13.7 percent in June compared to a growth of 12 percent a year earlier. The non-dwelling consumer sector grew by 2.9 percent in June, compared to a contraction of 3.9 percent in the same month last year.

The ministry said that the growth rates during the corresponding period of the previous year will be interpreted taking into account the extraordinary circumstances due to the Covid-19 pandemic since March 2020.