Industrial Production Regains Momentum, Grows 3.1% In September
India's industrial production expanded by 3.1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday.
Factory output had contracted by 0.7 per cent in the preceding month (August 2022). It grew by 2.2 per cent in July this year.
Factory output, measured in terms of the Index of Industrial Production (IIP), had expanded by 4.4 per cent in September 2021.
The manufacturing sector grew by 1.8 per cent in September 2022, compared to 4.3 per cent growth recorded in the year-ago period, as per the data released by the Ministry of Statistics and Programme Implementation.
The power sector showed a growth of 11.6 per cent against a 0.9 per cent rise a year ago. The mining sector also witnessed a growth of 4.6 per cent in September 2022 compared to 8.6 per cent in the year-ago month.
During April-September this year, IIP rose 7 per cent against 23.8 per cent expansion in the same period of 2021-22.
Capital goods output, which is a barometer of investments, rose 10.3 per cent in September 2022 compared to 3.3 per cent growth in the corresponding month of the previous year.
The consumer durables segment declined 4.5 per cent from 1.6 per cent growth earlier.
The primary goods segment, which accounts for nearly 34 per cent of the index, expanded 9.3 per cent in September compared to 4.6 per cent growth in the year-ago period.
The ministry said the growth rates over the corresponding period of the previous year are to be interpreted considering the unusual circumstances on account of the COVID-19 pandemic since March 2020.
-
Talking Points This Week: Leadership Shock At Nvidia, Earnings Strength, And The Fog Over Hormuz
The Anthropic IPO pricing and first trading day, Nvidia's upcoming earnings, and any fresh signals from Iran will set the tone for the following week.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
