India’s industrial production grows 3.4% in April 2019

India’s factory production expanded in April 2019 by 3.4 per cent from a revised growth of 0.35 per cent reported for March, 2019, official data showed.

However, on a year-on-year basis, April’s industrial production growth of 3.4 per cent was lower than 4.5 per cent that was achieved during the corresponding month of the previous fiscal.

“The cumulative growth for the period April-March 2018-19 over the corresponding period of the previous year stands at 3.6 per cent,” Ministry of Statistics & Programme Implementation said in ‘Quick Estimates of Index of Industrial Production’ (IIP).

In terms of industries, 14 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of April 2019 as compared to the corresponding month of the previous year.

The Indices of IIP for the Mining, Manufacturing and Electricity sectors for the month of April 2019 stand at 107.8, 126.6 and 162.9 respectively, with the corresponding growth rates of 5.1 per cent, 2.8 per cent and 6.0 per cent as compared to April 2018, data showed.

The cumulative growth in these three sectors during April-March 2018-19 over the corresponding period of 2017-18 has been 2.9 per cent, 3.6 per cent and 5.2 per cent respectively.

As per the data, the output rate of the manufacturing sector rose 2.8% in April from a year-on-year rise of 4.9%.

On a year-on-year basis, mining production grew 5.1% from a rise of 3.8% and the sub-index of electricity generation was higher by 6% from 2.1%.

Among the six use-based classification groups, the output of primary goods, which has the highest weightage of 34.04, grew by 5.2%. The output of intermediate goods, which has the second highest weightage, inched-up by 1%.

Similarly, output of consumer non-durables rose 5.2% and that of consumer durables gained 2.4%.

In addition, output of infrastructure or construction goods increased by 1.7%, but that of capital goods 2.5%.

The industry group ‘Manufacture of wearing apparel’ has shown the highest positive growth of 33.6 per cent followed by 22.6 per cent in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 16.3 per cent in ‘Printing and reproduction of recorded media’. On the other hand, the industry group ‘Manufacture of paper and paper products’ has shown the highest negative growth of (-) 12.3 per cent followed by (-) 9.6 per cent in ‘Manufacture of fabricated metal products, except machinery and equipment’ and (-) 3.5 per cent in ‘Manufacture of other transport equipment’.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

Leave a Reply

Your email address will not be published. Required fields are marked *