India’s industrial output, as measured by the Index of Industrial Production (IIP), grew by 8% year-on-year in August this year. The latest data indicate that industrial activity continued to expand at a healthy pace, with the upward revision in July’s IIP growth to 7.4% from the earlier estimate of 6.7%.
According to government data released today, electricity and gas supply recorded strong growth of 12.3% in August, while manufacturing, which carries the heaviest weight in the index, expanded by 9%. Water supply, sewerage and waste management also registered healthy growth of 6.3%. However, the mining sector remained a laggard, contracting by 5.6% during the period under review.
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