India's industrial production grows 4.2% in April

India's industrial production growth rose to 4.2 per cent in April from 1.7 per cent in March 2023, mainly due to good performance by the manufacturing and mining sectors, according to official data released on Monday. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 6.7 per cent in April 2022.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew 4.9 per cent in April 2023 against a 5.6 per cent expansion a year ago.

Power generation declined 1.1 per cent in April 2023 compared to a growth of 11.8 per cent.

Mining output, however, rose by 5.1 per cent during the month under review against a growth of 8.4 in the year-ago period.

As per use-based classification, the capital goods segment recorded a 6.2 per cent growth in April compared to a 12 per cent expansion a year ago.

Consumer durables output during the month declined by 3.5 per cent against a 7.2 per cent growth a year ago.

Consumer non-durable goods output grew 10.7 per cent against a contraction of 0.8 per cent a year earlier.

Infrastructure/construction goods posted a growth of 12.8 per cent compared to a four per cent expansion in the same period a year ago.

The data also showed that the output of primary goods logged 1.9 per cent growth in the month against 10.3 per cent in the year-ago period.

The intermediate goods output in April grew by 0.8 per cent compared to a 7.1 per cent growth during the corresponding month last year.

For fiscal 2022-23, the growth in IIP works out to be 5.2 per cent, down from 11.4 per cent in the preceding year.