Industrial Production in India (IIP) records a growth of 1.10% in March 2023. This is however a slowdown in the factory output compared to the growth rate of 5.6% in the previous month. Mining and manufacturing output witnessed an upside of 0.5% and 6.8% in March, while power output declined by 1.6%.
As per the Ministry of Statistics & Programme Implementation data, the quick estimates of IIP with base 2011-12 stands at 150.5.
Indices like Mining, Manufacturing, and Electricity sectors saw an output of 54.2, 146.0, and 188.0 respectively in March 2023.
Also, as per the use-based classification, the indices stand at 158.2 for Primary Goods, 120.9 for Capital Goods, 158.2 for Intermediate Goods, and 178.7 for Infrastructure/ Construction Goods for the month of March 2023.
Further, the indices for Consumer durables and Consumer non-durables stand at 118.1 and 145.6 respectively for the month of March 2023.
Overall, in the fiscal year FY23, the growth was at 5.1% against 11.4% in FY22.
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