India's Oct industrial production grows by over 3.5%

NEW DELHI: India's industrial activity accelerated in October with a rise of over 3.5 per cent in factory output on a year-on-year basis, official data showed on Thursday.

As per the Quick Estimates of Index of Industrial Production (IIP), the factory output grew by 3.6 per cent in October 2020 from 0.49 per cent in September and (-) 6.6 per cent during the corresponding month of the previous year.

"For the month of October 2020, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 128.5," the Ministry of Statistics and Programme Implementation said.

"The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of October 2020 stand at 98, 130.7 and 162.2 respectively."

The IIP had been in the negative territory from April to August FY21 due to the Covid-19 pandemic and the subsequent lockdown to curb its spread.

Among major segments, manufacturing production grew by 3.5 per cent from (-) 5.7 per cent reported for the corresponding month of last year.

Similarly, electricity generation grew by 11.2 per cent from (-) 12.2 per cent during October 2019. However, mining output de-grew by (-) 1.5 per cent on a YoY basis. (IANS)

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