Industrial production grows at a year-high of 19.6% in May
- IBEF
- July 14, 2022
India's index of industrial production (IIP) grew at 19.6% in May 2022 which is the highest in a year driven by strong performance in manufacturing, power and mining sectors.
According to the data released by the Ministry of Statistics and Programme Implementation (MoSPI), manufacturing sector witnessed a growth of 20.6% in May 2022, while the mining sector grew by 10.9% in May 2022, the power sector experienced a growth of 23.5% in May 2022 compared to 7.5% in May 2021.
The primary goods segment, which accounts for approximately 34% of the index, increased by 17.7% in May 2022 compared to 15.8% in May 2021.
According to MoSPI, the growth rates over the corresponding period of previous year are to be interpreted considering the unusual circumstances on account of Covid-19 pandemic since March 2020.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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