In April, industrial production increased by 4.2%

According to official statistics issued on Monday, India’s industrial output growth increased to 4.2% in April from 1.7% in March 2023, mostly as a result of strong performance by the manufacturing and mining sectors.

In April 2022, the increase in industrial production as assessed by the Index of Industrial Production (IIP) was 6.7%.

According to the National Statistical Office’s (NSO) IIP data, the manufacturing sector’s production increased by 4.9% in April 2023 compared to a 5.6% increase in the previous month.

In April 2023, power generation decreased 1.1% compared to an increase of 11.8%.

However, compared to the same month last year, mining production increased by 5.1% during the current one.

According to use-based categorization, the capital goods category had a 6.2% increase in April against a 12% rise in the prior-year period.

During the month, production of consumer durables decreased by 3.5% compared to a 7.2% rise in the prior year.

Production of consumer non-durable products increased by 10.7% compared to a 0.8% decline in the prior year.

Infrastructure and construction products had growth of 12.8% compared to 4% increase during the same time last year.

The information also revealed that compared to the same month last year, the production of primary products increased by 1.9%.

In April, the production of intermediate products increased by 0.8% compared to a 7.1% gain in the same month previous year.

IIP growth is estimated to be 5.2% for the fiscal year 2022–2023, down from 11.4% in the year before.