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ICRA Research Report
As expected, the pace of growth of the Index of Industrial Production recorded a mild improvement to 11.9% in August 2021 from 11.5% in July 2021, driven by the positive impact of subdued rainfall on mining and electricity, even as manufacturing growth moderated.
In terms of the use-based categories, the improvement was limited to primary goods and consumer non-durables, with all the other categories reporting a moderation in the YoY growth in August 2021 relative to July 2021.
The IIP recorded a mild month-on-month decline of 0.2% in August 2021, after a gap of two months, led by mining and manufacturing, although infra/construction goods and consumer non-durables displayed a pickup.
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