The country's industrial production declined by 4 percent in October due to the weak performance of the mining and energy sectors along with a contraction in manufacturing output. This has been the worst performance of the Indian industry in the last 26 months since August 2020. At that time industrial production had decreased by 7.1%.
According to data released on Monday by the National Statistics Office (NSO), the Index of Industrial Production (IIP) grew by 4.2 percent in October 2021. The latest data shows that the growth of the industry has turned negative after a gap of only one month. The growth rate of industrial production was 3.5% in September this year, while it declined by 0.7% in August. According to the data, the manufacturing sector's output declined by 5.6 percent in October. There was an increase of 3.3 percent in the same period a year ago. However, mining and electricity generation grew by 2.5 percent and 1.2 percent, respectively. The production of consumer durables registered a major decline of 15.3 percent, while the production of non-durable consumer goods decreased by 13.4 percent.
Performance was weaker than expected, reduction in investment
Aditi Nayar, the chief economist of rating agency ICRA, said on these figures, the decline in IIP has been more than expected. It also shows the weak performance of exports. Besides, holidays during the festive season have also affected industrial production. Madan Sabnavis, chief economist, of Bank of Baroda, said the performance of capital products has been dismal as it points to a slowdown in investment.
India has done wonders again with the SpadeX mission. The 44.5-meter-long Polar Satellite Launch
On the strength of deadly bowling by Vaibhav Arora and Varun Chakraborty, Kolkata Knight Riders (
It is time for celebration for the entire cast and crew of Missing Ladies. Their film has been of
The first phase of voting is being held in Jammu and Kashmir today. Assembly elections are being
New Delhi. Delhi CM Arvind Kejriwal will not appear before the Enforcement Directorate even today
Today is the twelfth day of the ongoing war between Israel and the Palestinians. This war is beco
Earthquake tremors were felt in Tajikistan and Afghanistan on Thursday morning. The epicenter of
The England cricket team has announced its playing XI for its first match of the Champions Trophy
Big success for Taliban in Afghanistan, IS Khorasan military chief Qari Fateh killed
Qari Fateh, Minister of War and Military Chief of the Islamic State (IS) Khorasan Province, has b
Kolkata Knight Riders (KKR) won the title for the third time by defeating Sunrisers Hyderabad in
