India’s Index of Industrial Production (IIP) has jumped 13.6pc from a year ago on the back of a low base effect and the second wave of COVID-19, according to the official government data released on Aug 12.
IIP index for June 2020 dipped by 16.6pc and all broad indexes declined as compared to 2019 due to the COVID-19 pandemic and the subsequent restrictions.
June IIP is lower than May where the index jumped by 29.3pc as compared to the prior year.
Broad indices growth rates in June, including the mining index were all higher compared to the prior-year period.
The index for mining surged 23.1pc in June against the previous year and was up by 27.4pc in the April-June period from the same period, last year. The manufacturing index and electricity index increased by 13pc and 8.3pc, respectively, in June from the prior year. General IIP index in April-June was up by 45pc from the prior-year period.
Manufacture of motor vehicles, trailers and semi-trailers increased by 232pc in the April-June period and 61pc in June from the prior year. The basic metals manufacturing index was also up by 24pc in June and by 77.8pc in the April-June period. The index for fabricated metals rose by 17pc in June and by 92.7pc in the April-June period as compared to the prior year.