Thursday, December 2, 2021
BusinessIndustrial production grows 29.3pc in May

Industrial production grows 29.3pc in May

Published: 12th Jul 2021 10:58 pm

New Delhi: India’s industrial production grew 29.3 per cent in May, official data showed on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), manufacturing sector output surged 34.5 per cent in May 2021.

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Mining output climbed 23.3 per cent and power generation increased 7.5 per cent in May. The IIP had contracted 33.4 per cent in May 2020. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent.

It shrank 57.3 per cent in April 2020 due to decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections. The IIP had registered a growth of 5.2 per cent in February last year.

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