November IIP: India’s industrial production index grows 7.1% in November

India’s factory output based on the Index of Industrial Production (IIP) grew 7.1% year-on-year in the month of November, Ministry of Statistics and Programme Implementation data showed on Thursday.

For the April-November period, it grew by 5.5%, data showed. India’s IIP had contracted by 4% YoY in October.

The Index of Industrial Production (IIP) grew by 1 per cent in November 2021.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew by 6.1% in November 2022.

Also Read: Retail inflation eases to 5.77% in Dec

The mining output rose by 9.7% and power generation increased by 12.7% during the month under review.

The Quick Estimates of Index of Industrial Production (IIP) are usually released on 12th of every month with a six weeks lag and compiled with data received from source agencies, which in turn receive the data from the producing factories/ establishments.Data on Thursday also showed that India’s retail inflation eased to 5.7 per cent in December on an annual basis as against 5.88% in November 2022. The number has remained within RBI’s tolerance band of 2-6% for the second consecutive month.