India’s industrial production growth, as measured by the Index of Industrial Production (IIP), recorded a strong rise of 6.7 per cent in November this year on an annual basis. The IIP staged a solid comeback, edging higher from an upwardly revised rate of 0.5 per cent in October.
According to the data released by the Ministry of Statistics and Programme Implementation, this surge in the industrial output was driven by an eight per cent growth in the manufacturing sector. Among the other major components of IIP, growth in mining activity stood at 5.4 per cent, aided by the end of the monsoon season and stronger output of metallic minerals, including iron ore.
However, Electricity stayed in contraction, but the decline narrowed to 1.5 per cent from 6.9 per cent in October.
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