India’s industrial growth surges to 19.6 per cent in May

New Delhi, July 12: India’s factory output measured by the Index of Industrial Production (IIP) posted a robust growth of 19.6 per cent in May 2022, sharply higher from 7.1 per cent recorded in the previous month, as per the government data released on Tuesday.

The manufacturing sector posted a growth of 20.6 per cent in May, while power generation soared by 23.5 per cent year-on-year during the month under review. Mining output jumped by 10.9 per cent in May 2022, according to data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation.

As per use-based classification, the indices stand at 144.5 for Primary Goods, 95.3 for Capital Goods, 152.2 for Intermediate Goods and 153.1 for Infrastructure/ Construction Goods for the month of May 2022.

The indices for Consumer durables and Consumer non-durables stand at 113.5 and 136.8 respectively for the month May 2022.

“The strong recovery has been the result of enhanced industrial activity in the economy and noteworthy improvement in the key economic and business indicators in the recent months,” said Pradeep Multani, President, PHD Chamber of Commerce and Industry.