India's factory output grows 3.8 pc year-on-year in January
New Delhi: India's factory output measured in terms of Index of Industrial Production (IIP) grew 3.8% year-on-year in the month of January 2024, as per official data released on Tuesday.
As per data published by Ministry of Statistics & Programme Implementation (MoSPI), electricity sector growth stood at 5.6% in January this year.
While mining sector registered a growth of 5.9% in January this year, manufacturing sector grew at 3.2%.
Commenting on January IIP numbers, ICRA Chief Economist Aditi Nayar said that the growth expectedly eased during this period entirely led by a deceleration in the growth of manufacturing.
"Based on the available high frequency data for February 2024 as well as an unfavourable base (+6.0% in February 2023), ICRA anticipates the YoY IIP growth to remain at 3-4% in that month," she said.
As per the official data, IIP recorded 5.9% growth in April-January period of current financial year 2023-24.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
