Thursday, January 21, 2021

Industrial production declines 10.4% in July

Industrial production

NEW DELHI, SEPTEMBER 12: Industrial production declined by 10.4% in July, mainly due to lower output of manufacturing, mining and power generation, as per the Government data released on Friday.
According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 11.1%, while the output of mining and power fell 13% and 2.5%, respectively.
“In view of the preventive measures and announcement of nationwide lockdown by the Government to contain the spread of COVID-19 pandemic, a large number of the industrial sector establishments were not operating from the end of March 2020 onwards.
“This has had an impact on the items being produced by the establishments during the period of lockdown. With the lifting of restrictions in the subsequent periods, industrial activity is resuming,” the Ministry of Statistics and Programme Implementation said in a press release.
The Index for July 2020 stands at 118.1 as compared to 54.0, 89.5 and 108.9 in April, May and June 2020, respectively, it added. (PTI)