Industrial production up in June

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SME Times News Bureau | 11 Aug, 2020
India's factory output in June showed a healthy pickup from the May level, but remained deeply in the red on a yearly basis.

As per the Quick Estimates of Index of Industrial Production (IIP), on one hand, industrial activity accelerated by 20.4 per cent from May's level.

However, on a year-on-year basis, it remained deep in the red with a contraction of 16.6 per cent.

In the corresponding period of last year, the IIP had registered a growth of 1.3 per cent.

The estimates documents released by the Ministry of Statistics and Programme Implementation said that the current indices should not be compared with that of the months preceding the Covid-19 pandemic.

"For June 2020, the Quick Estimates of IIP with base 2011-12 stands at 107.8," the Ministry said.

"The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for June 2020 stand at 85.4, 106.9, and 1 56.2 respectively (Statement I)."

In terms of sub-index basis, the pace of recovery in industrial output was mixed across sectors in June 2020.

The output reading of the Manufacturing sector stood at 106.9 in June from May's 83.6 and 129 in the like period of last year.

Similarly, the mining activity stood at 85.4 from a YoY reading of 106.5 and 87.5 in May.

The sub-index of electricity generation was higher by 156.2 per cent from 15 0.6 in May.