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Synopsis Manufacturing, which has 77% weightage in IIP, had been under severe stress owing to curtailed economic activity in most of 2020 due to which the index showed a decline of more than 13 per cent from April to December year-on-year. Retail inflation for the month of February climbed to 5.03%, Jan IIP at-1.6% The Index of Industrial Production (IIP) for January slipped back into the negative territory and contracted at 1.6 per cent after growing 1 per cent in December on the back of positive manufacturing numbers. The data points to recovery still being patchy and the rising covid cases could cast a shadow over the momentum in coming months. ....
India s November Industrial Output Sees 1.9% Contraction Industrial production has been hit due to the COVID-19 pandemic since March. A labourer welds an iron pillar at a building material factory in an industrial area in Uttar Pradesh. Photo: Reuters New Delhi: India’s industrial production contracted by 1.9% in November, official data showed on Tuesday. According to the Index of Industrial Production (IIP) data, manufacturing sector output shrank by 1.7% in November 2020. Mining output also declined 7.3%, while power generation grew 3.5%. The IIP had grown by 2.1% in November 2019. ....