India’s Index for Industrial Production (IIP) jumped 22.4pc in March after dropping 3.6pc in February and 1.6pc in January. IIP for April 2020-March 2021 (FY21) period declined 8.6pc from the prior year, according to government data released on May 12.
IIP Broad Indices
The Index for mining in March increased 6.1pc against a degrowth of 1.3pc in the prior-year month.
The index for manufacturing gained the most, rising by 25.8pc against a dip of 22.8pc in 2020. The index for electricity grew of 22.5pc in March while it was down 8.2pc in the prior-year month.
The jump in broad indices has resulted in the general index to jump 22.4pc, while in 2020, the index had fallen 18.7pc compared to 2019.
For FY21, mining production contracted by 7.8pc compared to previous fiscal year while manufacturing contracted by 9.8pc. Electricity index dipped marginally by 0.5pc compared to prior fiscal.
Index for manufacturing of basic metals in March rose 26.2pc compared to March 2020 but was down 6.2pc in FY21. Manufacturing index for fabricated metal products jumped to 34.5pc in March but slipped 14pc for FY21 compared to previous fiscal.
Index for manufacturing of motor vehicles, trailers and semi-trailers in March jumped 77.7pc but declined 19.1pc for FY21. The index for infrastructure/construction goods zoomed 54.9pc compared to prior year March when the index dipped 36.8pc. Cumulative growth rate for the same index for FY21, however, declined 15.2pc.