Industrial production expands at 5-month high of 7.1% in November: Govt. data

India’s industrial production growth rose to a five-month high of 7.1% in November. File
| Photo Credit: Kamal Narang

India’s industrial output bounced back to rise 7.1% in November 2022, after plummeting 4.2% in October 2022 as per revised estimates. The rise was aided by base effects as November 2021 had clocked just 1% growth, but also marked a 6% uptick in output levels over the previous month.

After having tanked nearly 6% in October, manufacturing output improved to grow 6.1% from November 2021 levels, and rising 6.55% from October 2022.

Mining output growth accelerated from 2.5% in October to 9.7% in November. Electricity generation rose 12.7% in November, from just 1.2% year-on-year growth in October 2022, but total generation was 1.5% lower than the previous month.

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Seven of the 23 different manufacturing sectors tracked for the Index of Industrial Production (IIP) reported negative growth, led by apparel (-11.7%), coke and refined petroleum products (-9.8%) and textiles (-9%).

Of the rest, nine sectors reported close to 10% or higher growth, including other transport equipment (24%), motor vehicles (22.2%), printing of recorded media (22.1%) and machinery and equipment (up 20.8%).