India’s industrial production grew by 19.6 per cent in May 2022, the National Statistical Office said.
According to the Index of Industrial Production (IIP) data released by the NSO, the industrial growth in May was 19.6 per cent, higher than the growth logged the previous month.
ICRA’s Chief Economist Aditi Nayar said: “The sharp sequential increase in the industrial growth to the 12-month high 19.6 per cent in May 2022 was led by manufacturing and electricity, with a more modest uptick reported by mining activities relative to April 2022.”
In terms of the use-based categories, all the sub-indices except consumer non-durables displayed a high double-digit growth in May 2022, she said.
On the other hand, consumer non-durables posted a weak 0.9 per cent YoY rise in May 2022, reflecting the limited disruption that was caused to production of this category by the second wave of Covid-19.
The IIP growth exceeded the core sector growth after a gap of eight months.