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India’s November IIP increases 3.8%

January 13: India’s index of industrial production (IIP) with base 2004-05 rose 3.8% in November and stood at 169.8, showing an overall growth of 2.2% during April-November, 2014-15, according to a quick estimate by the government.

An official release said the indices of industrial production for the mining, manufacturing and electricity sectors for the month of November 2014 stood at 127.9, 177.0 and 174.3 respectively, with the corresponding growth rates at 3.4%, 3% and 10.0% as compared to November 2013.

The cumulative growth in the three sectors during April-November, 2014-15 over the corresponding period of 2013-14 has been 2.5%, 1.1% and 10.7% respectively, the data said.

In terms of industries, sixteen (16) out of the 22 industry groups in the manufacturing sector have shown positive growth during the month of November 2014 as compared to the corresponding month of the previous year.

Capital goods production, a barometer of demand, grew 6.5% to 250.9 in November, 2014 compared to a provisional growth of 0.1% at 235.6 in the same month of last year.

The cumulative growth for April-November, 2014-15 over the corresponding period of the previous year stood at 4.9% against a provisional contraction of 0.1% in the same period of 2013-14.

The consumer durables segment contacted by 14.5% in November, 2014 at 201.7 as compared to a negative growth of 21.7% at 235.8 in the same month of the previous year.

The cumulative growth of the sector for April-November, 2014-15 stood at negative 15.9% as compared to a negative growth of 12.6% in the corresponding period of the previous year.

The consumer non-durables segment grew 6.0% in November, 2014 and by 1.9% during April-November, 2014-15 as against a growth of 2.2% in November 2013 and 6.2% in April-November, 2013-14, the data added.